Title
Recommendation to Approve the City of Alameda Investment Policy. [City Council and SACIC] (Finance 10024051)
Body
To: Honorable Mayor and Members of the City Council
From: Kevin Kennedy, City Treasurer
EXECUTIVE SUMMARY
The City Council will consider approving updates to the City of Alameda’s (City) Investment Policy (Policy) (Exhibit 1). Each year, the City Treasurer and the Finance Director review the Policy for changes and revisions that may be needed to comply with applicable sections of the California Government Code or any other changes to keep the Policy updated to current business practices.
BACKGROUND
Section 5-2 of the Alameda City Charter requires the City Treasurer to annually recommend to the City Council, at a public meeting, an Investment Policy for the City Council’s approval. The City Treasurer and Finance Director have reviewed and recommended these proposed changes to the Policy. The Policy was last reviewed and adopted by City Council on September 16, 2025.
The Policy affirms the fiduciary responsibility to safeguard public assets and identify the opportunities for a systematic investment process. Priority is placed first on securing the safety of the principal and the liquidity needed for payroll and other City obligations, then on the investment's yield.
The policy has been developed in accordance with standards and policies established by the California Debt and Investment Advisory Commission (CDIAC) and the Association of Public Treasurers of the United States and Canada (APTUSC).
The Policy provides for staff to submit quarterly Investment Transaction Reports to the City Council. Investment Transaction Reports include summaries of all transactions within the investment portfolio and a statement confirming that current liquidity is adequate to meet expenditures for the next six months, as required by the California Government Code.
DISCUSSION
The City Treasurer and Finance Director are proposing certain changes, as...
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