HomeMy WebLinkAboutReso 95-2023 (23-457)• City of South San Francisco P.O. Box 711 (City Hall, 400
Grand Avenue)
City Council South San Francisco, CA
• Resolution: RES 95-2023
File Number: 23-457 Enactment Number: RES 95-2023
RESOLUTION APPROVING THE CITY' S INVESTMENT
POLICY FOR FISCAL YEAR 2023-24.
WHEREAS, each Fiscal Year, the City of South San Francisco's Investment Policy is presented to
the City Council of South San Francisco for consideration; and
WHEREAS, the Fiscal Year (FY) 2023-24 Investment Policy reflects some minor changes from
the prior year's policy as follows:
Addition of Maximum Maturity Section
Addition of 20% limit on federal agency callable debt under the "Mitigating Credit Risk" section; and
WHEREAS, staff will continue to work with the City's investment advisor to review the City's
Investment Policy to ensure compliance with best practices and alignment with state code.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South San Francisco
does hereby approve the FY 2023-24 Investment Policy
At a meeting of the City Council on 6/14/2023, a motion was made by Councilmember Addiego,
seconded by Councilmember Flores, that this Resolution be approved. The motion passed.
Yes: 4 Mayor Nicolas, Vice Mayor Nagales, Councilmember Addiego, and
Councilmember Flores
Abstain: 1
Attest by
Govea Acosta, City Clerk
City of South San Francisco