June 18, 2002
City Council Agendas
June 18, 2002
11/22/2016 12:41:51 PM
11/16/2016 3:08:19 PM
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• <br /> Attachment "A" <br /> CITY OF ARCADIA <br /> STATEMENT OF INVESTMENT POLICY <br /> FY 2002-2003 <br /> PURPOSE <br /> This statement is intended to provide guidelines for the prudent investment of the City's <br /> Funds and outline the policies for maximizing the efficiency of the City's cash management <br /> system. The ultimate goal is to enhance the economic status of the City while protecting <br /> its funds. <br /> OBJECTIVE <br /> The City's cash management system is designed to accurately monitor and forecast <br /> expenditures and revenues, thus enabling the City to invest funds to the fullest extent <br /> possible. The City Treasurer attempts to obtain the highest yield obtainable as long as <br /> investments meet the criteria established for safety and liquidity. <br /> POLICY <br /> A. The City Treasurer operates the City's cash investment under the prudent man rule.* <br /> This affords the City a broad spectrum of investment opportunities as long as the <br /> investment is deemed prudent and is allowable under current legislation of the State <br /> of California and other imposed legal restrictions. <br /> B. City investments'may be made in, but not limited to, the following instruments: <br /> Certificates of Deposit purchased from banks or savings and loan institutions. <br /> Banker Acceptance <br /> - Treasury Bill and Notes <br /> Government Agency Securities (e.g. Federal National Mortgage Association, <br /> Government National Mortgage Association, Federal Farm Credits) <br /> Commercial Paper. <br /> Repurchase Agreements <br /> State Local Agency Investment Funds <br /> Passbook Savings Account <br /> *The prudent man rule states, in essence, that " in investing property for the <br /> benefit of another, a trustee shall exercise the judgment and care, under the <br /> circumstances then prevailing, which men of prudence, discretion and intelligence <br /> exercise in the management of their own affairs. <br />
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