101-Staff Report.pdf ADMINISTRATIVE SERVICES DEPARTMENT
CITY HALL
10 10300 TORRE AVENUE • CUPERTINO, CA 95014-3255
TELEPHONE: (408) 777-3227 www.cupertino.org
CITY COUNCIL STAFF REPORT
Meeting: February 7, 2012
Annual adoption of City Investment Policy
Subject
Adopt the City Investment Policy
Recommended Action
No policy changes are proposed.
Description
The California Government Code requires a statement of investment policy to be reviewed
and adopted by the City Council on at least an annual basis. This statement is intended to
provide guidelines for the prudent investment of the City’s temporary idle cash and outline the
policies for maximizing the efficiency of the City’s cash management system. The ultimate
goal is to enhance the economic status of the City while protecting its pooled cash.
Discussion
No changes are proposed for this year’s policy. The Audit Committee accepted the policy on
January 19, 2012. _____________________________________
Prepared by: David Woo, Deputy Treasurer
Reviewed by: Carol A. Atwood, City Treasurer
Approved for Submission by:
Attachments: Draft Investment Policy
David W. Knapp, City Manager