Report to Mayor and City Council
Tuesday, May 17, 2022
Consent
SUBJECT:
Title
CONSIDER THE ANNUAL STATEMENT OF INVESTMENT POLICY- CITY OF CARSON, FORMER CARSON SUCCESSOR AGENCY AND CARSON HOUSING AUTHORITY 2022
Body
I. SUMMARY
In accordance with California Government code section 53600, The Statement of Investment Policy is being presented for review and adoption by the City Council.
II. RECOMMENDATION
Recommendation
APPROVE Statement of Investment Policy
Body
III. ALTERNATIVES
TAKE another action the Council deems appropriate.
IV. BACKGROUND
The Statement of Investment Policy establishes the prudent investment of reserve revenue and provides guidelines for suitable investments. The investment policy covers the investments of the following entities: City of Carson/Carson Housing Authority and the former Carson Successor Agency. Revenue not utilized for the day-to-day operation of each Carson entity must be invested in safe and liquid investments, while conforming to all state statues governing the investment of public funds. The goal is to enhance the economic status of the City, Housing Authority and former Successor Agency while protecting its funds. The investment policies and practices are based upon state law and prudent money management. There were no state law changes that required modification of the investment policy.
V. FISCAL IMPACT
NoneVI. EXHIBITS
1. Exhibit No. 1 - Statement of Investment Policy. (pgs. 3 - 15)
Prepared by: Monica Cooper, City Treasurer