Res94 12352 - Laserfiche WebLink

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Exhibit "A" ._ I. INTRODUCTION City monies not required for immediate expenditure shall be invested in compliance with governing provisions of law (see Redwood City Charter Section 34, Government Code Sections 53600 et seq., Redwood City Code Sections 2.33.1 et seq.) and this policy. The City shaft maintain adequate cash availability and maximum yield on invested idle funds while insuring that principal invested is protected from loss. Investments shall be made in a range of instruments to insure diversification of the City's portfolio and liquidity of assets in an emergency situation. Scope: This policy shaft cover aft investments for aft City funds in the custody and control of the City Treasurer and which are accounted for in the City's Comprehensive Annual Financial Report. Prudence: All investments shall be made within the policy framework of liquidity and safety with judgment and care which a person of prudence and intelligence would, under circumstances when prevailing, exercise in the management of his/her affairs. Policy Objective: The primary objectives of this policy in order of priorities are: Safety: Safety of the principal shaft be the top priority in consideration of any investment undertaken by the City Treasurer. The portfolio shall be so diversified that the losses, if any, on particular securities or from an institute shaft be offset by the revenue generated from other investments. Liquidity: The Treasurer shall keep the portfolio sufficiently liquid to meet the operating and capital needs of the City which can be reasonably anticipate from his/her experience of the City operations and adopted budget. He/she shall also review the various construction and other contracts the City has entered into, to anticipate the cash needs. Return on investment: Vtf~thin the safety and liquidity constraints, investment portfolio shaft be designed to attain the market rate of retum.