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<br />6.1C <br />Page 1 <br /> <br />.R............E. ...p.......O... .\R...........T.... <br />'" '. .. ..... '." . .' ' . <br />.. ..' <br />.,' ," . .. <br />. .. ..' <br />. .. <br />. . <br />. ...... '" <br />. . ,'." <br />. . <br /> <br />To the Honorable Mayor and Oity CotUlcil <br />From th:e: Ouv Nfs.,aqer <br /> <br />June 15, 2009 <br /> <br />SUBJECT <br />I nvestment Policy <br /> <br />RECOMMENDATION <br />By motion, approve the City of Redwood City investment policy as amended. <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 /> <br />Inasmuch as the recommended changes are more clerical and ministerial in nature the <br />Council Finance Committee was not convened to review these changes. Instead staff <br />presented the proposed changes to Council member Ira, chair of the Finance Committee, <br />who reviewed such changes and directed staff to present the revised investment policy to <br />the full Council for consideration. <br /> <br />The recommended investment policy with the changes illustrated in underline and <br />strikethrough format is attached. <br /> <br />ALTERNATIVES <br />Council may elect not to approve this recommendation but in doing so places the City in <br />the position of having its investment policy being less than clear on which funds the policy <br />applies to. <br /> <br />FISCAL IMPACT <br />There is no fiscal impact associated with the recommended changes to the City's <br />investment policy. <br /> <br />Bri1jf~ <br /> <br />Director of Finance <br /> <br />../1 <br /> <br />ATTACHMENTS <br />1. Proposed 2009 Investment Policy and Guidelines <br />