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.  As such, the delegation of authority must be re-affirmed each year.

City of Rocklin Legislative Policy No. 1 – Investment Policy, Section Xll, requires annual review of 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 the needs of the City. It also requires adoption of the Investment Policy, each year, by resolution. The only policy change this year is to revise language pertaining to the City's Investment Committee. As discussed separately, it is recommended the Investment Committee be re-organized and re-envisioned as an Investment Advisory Committee comprised of three qualified community members who will provide advice and make recommendations to the City Treasurer and the City Council.