SUBJECT:
Action regarding Resolution No. 2021-21, Annual Approval of Investment Policy
BACKGROUND/DISCUSSION:
Chapter 2256 of the Government Code, also known as the "Public Funds Investment Act" requires the City to have a written investment policy that must be reviewed annually by the governing body. Attached is a copy of the City of Saginaw Investment Policy which was last revised September 3, 2019. The investment policy has been reviewed by the Investment Committee, which is comprised of the Mayor, the City Manager, the Assistant City Manager, and the Finance Director. The committee has made one revision to the policy by removing the Assistant City Manager and adding the Financial Analyst to the Investment Committee. The Investment Committee recommends approval of the resolution approving the revised investment policy.
FINANCIAL IMPACT:
N/A
RECOMMENDATION:
The Investment Committee recommends approval of Resolution No. 2021-21, annual approval of the Investment Policy. |