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FINANCE
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ITEM: |
ACTION
ITEM |
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4. |
CONSIDER APPROVAL OF ANNUAL
UPDATE OF INVESTMENT POLICY |
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Meeting
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January 21, 2025 |
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: |
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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 ______________. |
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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: District staff proposes that the Finance and Administration Committee recommend the Investment Policy be adopted by the Board.
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\Board_Committees\FAC
prev Admin\2025\012125\Action Items\04\Item-4.docx