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ITEM: |
ADMINISTRATIVE
COMMITTEE |
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3. |
CONSIDER APPROVAL OF ANNUAL
UPDATE OF INVESTMENT POLICY |
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Meeting
Date: |
January 17, 2012 |
Budgeted: |
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: |
Suresh
Prasad |
Cost Estimate: |
N/A |
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General Counsel Review: N/A |
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Committee Recommendation: The Administrative Committee reviewed this item on January 17, 2012 and recommended _________. |
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CEQA Compliance: N/A |
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SUMMARY: The State of California Government Code requires the District Board to annually review and approve the District Investment Policy. The District’s current investment policy, included as Exhibit 3-A, was adopted by the Board on September 20, 1997 and no changes have been made to the policy since that date. The policy provides guidance for the District Treasurer, who acts on behalf of the Board in all investment matters. The policy was last reviewed by the Board on January 27, 2011. District staff has again 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: District staff recommends that the Board review and approve the District’s Investment Policy. This item will be approved if adopted along with the Consent Calendar.
BACKGROUND: The State of
3-A Monterey
Peninsula Water Management District Investment Policy
U:\staff\Board_Committees\Admin\2012\20120117\03\item3.docx