CC Resolution No. 05-078
RESOLUTION NO. 05-078
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AMENDING THE INVESTMENT POLICY TO PROVIDE WRITTEN
REPORTS ON A QUARTERLY BASIS
WHEREAS, the City's Investment Policy currently requires monthly investment reports;
and
WHEREAS, the State Government Code 53646 allows local agencies to provide
quarterly investment reports within 30 days of the end of the quarter; and
WHEREAS, the Cupertino Audit Committee recommends preparing quarterly investment
reports until the Finance Director position is filled;
NOW, THEREFORE, BE IT RESOLVED that the Director of Administrative Services is
hereby authorized to provide quarterly investment reports until the Finance Director position is
filled.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 3rd day of May, 2005 by the following vote:
Vote
Members of the Citv Council
AYES:
NOES:
ABSENT:
ABSTAIN:
Kwok, Lowenthal, Wang, James
None
Sandoval
None
ATTEST:
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City Clerk I Dy~