Agenda Item: 7
CITY OF SANTA CLARITA
AGENDA REPORT
CONSENT CALENDAR
CITY MANAGER APPROVAL:
DATE: April 14, 2026
SUBJECT: CITY OF SANTA CLARITA'S FISCAL YEAR 2026-27 STATEMENT
OF INVESTMENT POLICY
DEPARTMENT: Administrative Services
PRESENTER: German Lopez
RECOMMENDED ACTION
City Council adopt the City of Santa Clarita's Fiscal Year 2026-27 Statement of Investment Policy, and direct staff to submit the policy to the Association of Public Treasurers of the United States and Canada for certification in their annual award program.
BACKGROUND
Pursuant to California Government Code Section 53646, the Treasurer of the City of Santa Clarita (City) may annually present the City's Investment Policy (Policy) to the City Council to reaffirm or make any changes to the existing policy. The Policy has been submitted to the Association of Treasurers United States and Canada (APT US&C) every year for the past 31 years and has received the Certificate of Excellence for each of these years.
The Policy provides guidelines for the management of the City's cash and the investment of its idle funds. The Policy affords the City various investment opportunities, as long as the investment is deemed prudent under the Uniform Prudent Investor Act (California Probate Code, Article 2.5, Sections 16045-16054) and is allowable under the legislation of the State of California (Government Code Section 53600, et seq.). The Policy's guidelines emphasize the importance of safety and liquidity first. The yield on the City's investment portfolio is secondary to these first two objectives.
As part of the review process, the APT US&C and the California Debt and Investment Advisory Commission (CDIAC) may recommend changes that are then incorporated into the next year's update. For this update, the recommendations are as follows.
Senate Bills 858 (SB 858) and 595 (SB 595) took effect January 1, 2026, and made one update to Government Code Section 53601 extending the maximum maturity for prime quality commercial
paper from 270 days to 397 days. Staff recommends updating language on the Statement of Investment Policy Appendix A-Section 8-Commercial Paper, Appendix B-Commercial Paper- Maximum Maturity Constraints, and Appendix C-Commercial Paper to reflect these changes.
The updated sections will align the City’s Policy with current Government Code.
ALTERNATIVE ACTION
Other action as determined by the City Council.
FISCAL IMPACT
None by this action.
ATTACHMENTS
Santa Clarita Investment Policy FY 26-27