Title
City of Sacramento Investment Policy and Delegation of Investment Authority to City Treasurer
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FileID
File ID: 2024-01055
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Location
Location: Citywide
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Recommendation
Recommendation: Adopt a Resolution approving the investment policy governing the investments and management of City of Sacramento pooled funds and delegating authority to the City Treasurer to manage the investment of pooled and non-pooled funds.
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Contact
Contact: Stacy Hussey, Chief Investment Officer, (916) 808-7746, shussey@cityofsacramento.org; John Colville, City Treasurer, (916) 808-8297, jcolville@cityofsacramento.org; Office of the City Treasurer
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Presenter
Presenter: None.
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Attachments
Attachments:
1-Description/Analysis
2-Background
3-Resolution
4-Exhibit A-City of Sacramento Investment Policy
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Description/Analysis
IssueDetail
Issue Detail: The City Treasurer annually presents to the City Council for its consideration and approval the investment policies governing the investment of funds held in the City's pooled treasury funds. The policies govern the City's investment practices and are set forth in an Investment Policy document. The Investment Policy was last approved by the Council on January 23, 2024, by Resolution No.2024-0021. The proposed Investment Policy is attached as Exhibit A to the accompanying Resolution.
Section 73 of the Sacramento City Charter vests the City Treasurer with authority to deposit and invest funds of the City treasury, subject to the annual delegation of investment authority from the City Council to the City Treasurer pursuant to Government Code section 53607. In accordance with Government Code section 53607[JM1], the City Treasurer recommends that the City Council delegate to the City Treasurer the authority and responsibility of investing funds held in the City's pooled treasury and non-pooled funds for the next twelve months in a manner consistent with the approved Investment Policy.
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