The Administrative Services Director is responsible for investing unexpected cash in the City's treasury, in accordance with the Municipal Code and under the authority granted by the 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.

Quarterly Financial Reports

FINANCIAL REPORTS

Financial Policies

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 the City's finances are managed in a manner that will:

  1. Continue to provide for the delivery of quality services;
  2. Maintain and enhance service delivery as the community grows in accordance with the General Plan;
  3. Guarantee a balanced budget annually, ensuring the City always lives within its means; and
  4. Establish reserves necessary to meet known and unknown future obligations.

FINANCIAL POLICIES