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<br />
<br />
<br />April 23, 2007
<br />
<br />Subject
<br />Investment Policy
<br />
<br />Recommendation
<br />Approve by motion the existing City of Redwood City investment policy without changes.
<br />
<br />Background
<br />The government code requires that the City's investment policy be presented to the City
<br />Council for review and approval each year only if there are changes made to the policy.
<br />Nonetheless, staff believes it is a good practice to present the investment policy to the
<br />Council each year even if there are no changes.
<br />
<br />The City's practice is to first present the investment policy to Caporicci & Larson, the City's
<br />independent auditor, and the Finance Committee, consisting of Vice Mayor Rosanne
<br />Foust, and Council Members Jeff Ira and Jim Hartnett, for review and approval of any
<br />suggested changes. Caporicci & Larson has reviewed the investment policy and has
<br />agreed that it is satisfactory with no changes. The Finance Committee has recommended
<br />that the investment policy be presented to the City Council for approval with no proposed
<br />changes.
<br />
<br />The investment policy is attached for your review.
<br />
<br />Brian VJf~
<br />
<br />Director of Finance and
<br />Financial Planning
<br />
<br />/Jrj;'f J:
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<br />
<br />Edward p, Everett
<br />City Manager
<br />
<br />Attachments
<br />Investment Policy and Guidelines
<br />
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