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Staff Report
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| Subject: | Confirming Legislative Policy No. 1 - Investment Policy |
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| | Date: | June 23, 2020 |
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| | Submitted By: | Kimberly Sarkovich, Assistant City Manager/CFO and City Treasurer
Ted Williams, Financial Analyst
Mary Rister, Finance Manager
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| | Department: | Administrative Services - Finance |
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| | | | | | | | Staff Recommendation: | | Adopt a Resolution of the City Council of the City of Rocklin Adopting Legislative Policy No. 1 – Investment Policy |
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| | | | | | | | | BACKGROUND: | The City of Rocklin Legislative Policy No. 1 – Investment Policy, Section Xll, requires the Investment Committee to annually review the City’s investment policy to ensure its consistency with the overall objectives of preservation of principal, liquidity and return, and relevance to current law, financial and economic trends, and to meet the needs of the City of Rocklin.
California Government Code 53607 permits the City Council to delegate its authority to invest and reinvest City funds to the City Treasurer for up to one year.
Section Xll of Legislative Policy No. 1 - Investment Policy requires the City Council to annually adopt by resolution the City’s Investment Policy. There are no changes this year from the current policy.
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