TO:
Honorable Mayor and Members of the City Council
THROUGH:
Talyn Mirzakhanian, City Manager
FROM:
Libby Bretthauer, Finance Director
SUBJECT:Title
Consideration of: a) Adopting the Investment Policy for Fiscal Year 2026-2027 and b) Delegation of Responsibility for Investing Funds to the City Treasurer (No Budget Impact) (Finance Director Bretthauer).
A) ADOPT INVESTMENT POLICY FOR FY 2026-2027
B) DELEGATE RESPONSIBILITY FOR INVESTING FUNDS
Body
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RECOMMENDATION:
The Finance Subcommittee and City staff recommend that the City Council adopt the Fiscal Year (FY) 2026-2027 Investment Policy (Policy) and continue the existing delegation of responsibility for investing funds to the City Treasurer.
FISCAL IMPLICATIONS:
There are no fiscal implications associated with the recommended action.
BACKGROUND:
Consistent with California Government Code Section 53646, the City's adopted Financial Policies state that the Finance Subcommittee and City Council shall annually review and update, as appropriate, the City's Investment Policy. Furthermore, the Investment Policy shall be adopted by the City Council based upon the Finance Subcommittee's recommendations.
The Finance Subcommittee reviewed and approved the FY 2026-2027 Investment Policy at its August 6, 2026, meeting, in advance of the City Council's review.
DISCUSSION:
City staff reviewed the current Investment Policy and consulted the City's investment brokers on potential updates to align with recent legislation and evolving market conditions. Additionally, guidelines issued by the California Debt and Investment Advisory Commission (CDIAC) and California Municipal Treasurers Association (CMTA) were reviewed and are incorporated as appropriate.
The City's Investment Policy was last certified by CMTA in FY 2021-2022. This Investment Policy Certification recognizes and validates that the City of Manhattan Beach's Investment Policy adheres to the State o...
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