Our investment priorities, in order, are safety, liquidity, and yield, while meeting its cash flow needs through prudent investment of unexpected cash.
Compliance with Policy
Historical cash flow trends are compared to current cash flow requirements on an ongoing basis. This ensures our investment portfolio will remain sufficiently liquid, positioning us to meet all reasonably anticipated operating requirements.
The Administrative Services Director is responsible for investing unexpected cash in our treasury, in accordance with the Municipal Code and under the authority granted by our City Council.
The investment of funds is directed by the goals of safety, liquidity and yield. The authority governing investments for municipal government is set forth in the California Government Code, Sections 53601 through 53659.
In June 2008, the City Council approved financial policies formalizing longstanding practices that had been used in the past to prepare the budget. The policies were established to ensure that our finances are managed in a manner that will:
Continue to provide for the delivery of quality services;
Maintain and enhance service delivery as the community grows in accordance with the General Plan;
Guarantee a balanced budget annually, ensuring we always live within our means; and
Establish reserves necessary to meet known and unknown future obligations.
TO VIEW PRIOR YEARS' FINANCIAL REPORTS
To view prior years' budgets, quarterly and annual financial reports: