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Agenda Item _ <br />Pape 2 <br />• RE- AFFIRMATION OF STATEMENT OF INVESTMENT POLICY. Following the . <br />County of Orange's bankruptcy in late 1994, the State Legislature adopted SB 564 (Johnston) <br />which requires each local agency to consider its Statement of Investment Policy (the City <br />Council's Policy F -1) annually. The law reads as follows: <br />Government Code § 53646 -- (a) The treasurer or chief fiscal officer shall annually render to <br />the legislative body of the local agency and any oversight committee a statement of investment <br />policy, which the legislative body of the local agency shall consider at a public meeting. Any <br />changes in the policy shall also be considered by the legislative body of the local agency at a public <br />meeting. <br />The City staff does not recommend any changes to Policy F -1 at this time, but offers the <br />policy in full (in Attachment B) as a part of the City's obligations under SB 564 (Johnston). The <br />Council's review of this policy at a public meeting completes this obligation. <br />• FEE RESOLUTION. Over the years, the City has attempted to consolidate its fees on a <br />single "schedule" so that the dollar amounts of the fees can be reduced or increased without <br />amending the policy document associated with the fee in question. Sometimes the only reason to <br />adjust the policy document is to adjust the fee — placing the dollar amounts outside of the policy <br />document allows the City Council to review and reset fees quickly. <br />Because some of the changes recommended above delete references to specific dollar <br />amounts for fees, these changes require the City Council to also amend the Fee Schedule to <br />reflect these changes. Attachment C contains the resolution that would amend the Fee <br />Schedule. The fees proposed in the Schedule are unchanged from the dollar amounts of <br />the fees formerly identified within the amended Policies. <br />ATTACHMENTS: . <br />Attachment A — Council Policy Summary <br />Attachment B — Proposed Changes to Council Policies A -2, A -3, K -3, and K -6. Council Policy <br />F -1 included per the City's SB 564 annual review of the Statement of Investment Policy <br />Attachment C — Resolution 99 -_ relating to the City's Fee Schedule <br />`J <br />[i <br />