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ITEM: |
CONSENT
CALENDAR |
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4. |
CONSIDER APPROVAL OF ANNUAL
UPDATE OF INVESTMENT POLICY |
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Meeting
Date: |
January
27, 2025
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Budgeted:
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N/A
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From: |
David J.
Stoldt, |
Program/ |
N/A |
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General
Manager |
Line Item
No.: |
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Prepared
By: |
Nishil Bali |
Cost Estimate: |
N/A |
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General Counsel Review:
N/A
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Committee Recommendation: The Finance and
Administration Committee reviewed this item on January 21, 2025
and recommended approval.
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CEQA Compliance: This action
does not constitute a project as defined by the California Environmental
Quality Act Guidelines Section 15378. |
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SUMMARY: Pursuant to California Government Code Section 53646(a)(2), this report provides an annual review of the District’s Statement of Investment Policy. The District’s current investment policy, included as Exhibit 4-A, was last amended by the Board on August 12, 2024. The policy provides guidance for the District Treasurer, who acts on behalf of the Board in all investment matters. District staff has reviewed the investment policy and determined that it complies with the current Government Code; and that it is adequate for protecting safety and providing liquidity, while yielding a reasonable rate of return given current market conditions.
RECOMMENDATION: The Finance and Administration Committee recommends that the Board adopt the Investment Policy.
BACKGROUND: The State of California Government Code permits the Board to annually review and approve the District Investment Policy. The District’s current policy has been reviewed, updated, and approved annually at the beginning of the calendar year by the Board. Additionally, State law, as well as District policy, requires that each quarter the Board receive and approve a report of investments held by the District. This requirement has been met as the Board has received quarterly reports on the contents and performance of the investment portfolio since the adoption of the investment policy.
4-A Monterey
Peninsula Water Management District Investment Policy
U:\staff\Boardpacket\2025\012725\Consent
Calendar\04\Item-4.docx