Staff Report.Investment Policy (2)
PREPARED BY: Stephen Conway
Finance Director
Reviewed by: Town Manager, Assistant Town Manager, and Town Attorney
110 E. Main Street Los Gatos, CA 95030 ● 406-354-6832
www.losgatosca.gov
TOWN OF LOS GATOS
COUNCIL AGENDA REPORT
MEETING DATE: 9/21/2021 ITEM NO: 5
DATE: September 15, 2021
TO: Mayor and Town Council
FROM: Laurel Prevetti, Town Manager
SUBJECT: Approve Revisions to the Town’s Operating Portfolio Investment Policy as
Recommended by the Finance Commission.
RECOMMENDATION:
Approve revisions to the Town’s Operating Portfolio Investment Policy as recommended by the
Finance Commission.
DISCUSSION:
The Investment Policy establishes the investment scope, objectives, delegation of authority,
standards of prudence, reporting requirements, internal controls, State mandated eligible
investments, transactions, diversification requirements, risk tolerance, and safekeeping and
custodial procedures for the investment of the operating funds of the Town. All Town funds
are invested and/or will be invested in accordance with the Investment Policy and with
applicable sections of the California Government Code.
The Finance Commission is tasked with the annual review of the Town Investment Policy.
On September 13, 2021, the Finance Commission reviewed the Investment Policy and
recommended a single change deleting the term “Council Finance Committee” and adding
“Finance Commission” to correctly reflect the name of the current Commission as redlined in
Attachment 1.
FISCAL IMPACT:
This action has no fiscal impact.
PAGE 2 OF 2 SUBJECT: Annual Review of the Town’s Portfolio Investment Policy DATE: September 15, 2021
ENVIRONMENTAL ASSESSMENT:
This is not a project defined under CEQA, and no further action is required.
Attachment:
1. Town of Los Gatos Investment Policy (redlined)