Laserfiche WebLink
6.1.B. - Page 1 <br /> RE PO RT <br /> To the Honorable Mayor and City Council <br /> From the Cit Mana er <br /> August 26, 2013 <br /> SUBJECT <br /> Investment Policy <br /> RECOMMENDATION <br /> Approve, by motion, the City of Redwood City investment policy for FY 2013-14. <br /> BACKGROUND <br /> Government Code 53646 (a) (2) requires that the City Treasurer submit proposed <br /> changes to the City's investment policy to the City Council for review and approval. <br /> ANALYSIS <br /> The Treasurer and the City's auditors reviewed the investment policy and did not find <br /> any areas that required an update or change. Staff discussed the lack of need for any <br /> changes with Council Member Ira, chair of the Finance Committee, who reviewed the <br /> policy and directed staff to present it with no changes to the full Council for <br /> consideration. Although the government code only requires changes to the investment <br /> policy to be reviewed by Council, staff and Chair Ira believe presenting the policy <br /> enhances transparency in connection with the oversight of the City's investments. <br /> ALTERNATIVES <br /> Council may elect not to approve the current investment policy as is and request staff to <br /> make changes it deems appropriate. <br /> FISCAL IMPACT <br /> There is no fiscal impact associated with reviewing the City's investment policy. <br /> ENVIRONMENTAL REVIEW <br /> This activity is not a project under CEQA as defined in CEQA Guidelines, section <br /> 15378, because it has no potential for resulting in either a direct or foreseeable physical <br /> change in the environment. <br /> � <br /> � �^�- <br /> BRIAN PONTY <br /> DIRECTOR OF FINANCE <br />