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6.1.A. - Page 1 <br /> RE PO RT <br /> To the Honorable Mayor and City Council <br /> From the Cit Mana er <br /> June 18, 2012 <br /> SUBJECT <br /> Investment Policy <br /> RECOMMENDATION <br /> Approve, by motion, the City of Redwood City investment policy as amended. <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 /> The following change is recommended: <br /> Section I. Scope — remove reference to the dissolved Redwood City <br /> Redevelopment Agency and replace with reference to the Successor Agency to <br /> the Redwood City Redevelopment Agency. <br /> ANALYSIS <br /> Inasmuch as the recommended change is more clerical and ministerial in nature the <br /> Council Finance Committee was not convened to review this change. Instead staff <br /> presented the proposed change to Council Member Ira, chair of the Finance Committee, <br /> who reviewed this proposed change and directed staff to present the revised investment <br /> policy to the full Council for consideration. <br /> The recommended investment policy with the recommended change illustrated in <br /> underline and strikethrough format is attached. <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 lacking some measure of clarity. <br /> FISCAL IMPACT <br /> There is no fiscal impact associated with the recommended change to the City's <br /> investment policy. <br /> ENVIRONMENTAL IMPACT <br /> Not a project under the California Environmental Quality Act. <br />