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0 k <br />F-1 <br />STATEMENT OF INVESTMENT POLICY <br />To set forth the City's policy concerning the investment of hemp arily idle funds. It is <br />the policy of the City to invest funds not required for mediate expenditures. <br />Investments will be in compliance with governing provi ' ns of law and the policy <br />contained herein. Primary investment goals are s5pftrity of principal, adequate <br />liquidity maintenance, and yield, in that order. Inv stments shall be placed only in <br />securities as outlined below. The balance between/yfirious investment instruments may <br />change in order to provide the City with the bes combination of yield, liquidity, and a <br />consideration for other factors, such as plag6ment of an appropriate percentage of <br />available investment funds locally. Its 1 be the main responsibility of the City <br />Council, in adopting this policy and re g the investment holdings on a monthly <br />basis, to preserve the investment princ al. <br />INVESTMENT AUTHORITY: <br />Under the direction of the C' Manager, the investment authority has been delegated <br />to the Director of Adminis alive Services, who is responsible for administration of the <br />City's investment progr . This authority shall be renewed annually as part of the <br />review and update of s Policy. In addition to the monthly investment report that is <br />submitted to the City ouncil, the Administrative Services Director shall provide more <br />detailed investmen information to the City Council Finance Committee as requested. <br />The Finance Com ittee shall be briefed directly by the City's investment advisors on a <br />quarterly basis henever possible. <br />Sections 53606 -53601 of the California Government Code provides basic investment <br />limits and guidelines for government entities. In the event an apparent discrepancy is <br />found between this policy and Sections 53600 - 53601, the more restrictive parameters <br />will take precedence. <br />LIQUIDITY: <br />Sufficient funding to accommodate at least two week's projected cash outflow is to be <br />maintained in immediately available investments, such as the State Local Agency <br />Investment Fund, maturing certificates of deposit, or similar liquid instruments. An <br />analysis of cash flow must be conducted at least weekly to serve as the basis for <br />determining appropriate maturities for investments. At no time shall the liquid cash on