TITLE:
title
RESOLUTION 2026-XX APPROVING THE 2025-2026 STATEMENT OF INVESTMENT POLICY FOR THE CITY, AND DESIGNATING THE CITY TREASURER TO INVEST AND REINVEST IDLE MONIES OF THE CITY OF COSTA MESA IN ACCORDANCE WITH THE 2025-2026 STATEMENT OF INVESTMENT POLICY
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DEPARTMENT: FINANCE
PRESENTED BY: MARK KHOU, BUDGET & PURCHASING MANAGER
CONTACT INFORMATION: MARK KHOU, BUDGET & PURCHASING MANAGER (714) 754-5241
RECOMMENDATION:
recommendation
Adopt Resolution 2026-XX (Attachment 1) approving the 2025-26 Costa Mesa Investment Policy (Attachment 2) and delegating the investment activities to the City Treasurer.
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BACKGROUND:
Pursuant to California Government Code section 53646(a)(2), the City Treasurer may submit a "Statement of Investment Policy" to the legislative body and any oversight committee. During each fiscal year, City staff presents any recommended changes to the Finance and Pension Advisory Committee (FiPAC) and the City Council. The attached Investment Policy has been developed according to the specific needs of the City of Costa Mesa and complies with the California Government Code, guidelines from the California Municipal Treasurer's Association (CMTA), and the Association of Public Treasurers of the United States and Canada (APTUS&C), as well as recommendations by the City's Finance Officer-Revenue.
FiPAC committee members review the Investment Policy recommended changes prior to the City Council review. On March 11, 2026, staff presented to the Finance and Pension Advisory Committee, and recommended that changes be made to the FY 2022-2023 Statement of Investment Policy. FiPAC unanimously approved staff's recommendation and the proposed revisions. The proposed Resolution provides the annual update and approves proposed revisions of the policy.
In addition to proposed revisions to allowable investment options, the revised policy adds language to ensure that the position of City Treasurer is always filled even if the Finance Directo...
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