The Finance Department handles the treasury and investment functions for the City. Investment activity is conducted in accordance with the City's Investment Management Plan and Investment Policy. DeAnna Hilbrants, Finance Director is appointed as the City Treasurer.
INVESTMENT POLICY SUMMARY
Under the authority granted by the City Council, the City Treasurer is responsible for investing the unexpended cash in the City Treasury. The investment of the funds is directed to the goals of safety, liquidity and yield. The authority governing investments for municipal governments is set forth in California Government Code, Sections 53601 through 53659.
The primary objective of the investment policy of the City of Sonoma is safety of principal. The secondary objective is to meet the liquidity needs of the City. The third objective is to achieve a return on the funds under the City’s control. Investments are placed in securities as by type and maturity. The City’s portfolio is designed and managed in a manner responsive to the public trust and consistent with state and local law. Portfolio management requires continual analysis and as a result the balance between the various investments and maturities may change in order to give the City of Sonoma the optimum combination of necessary liquidity and optimal yield based on cash flow projections.
INVESTMENT MANAGEMENT PLAN SUMMARY
The purpose of the investment management plan is to establish strategies, practices, and procedures to be used in administering the City's portfolio in accordance with the City's Statement of Investment Policy.
The City's primary investment objective is to achieve a reasonable rate of return on public funds while minimizing the potential for capital losses arising from market changes
or issuer default. Although the generation of revenues through interest earnings on investments is an appropriate City goal, the primary consideration in the investment of
City funds is capital preservation in the overall portfolio. In determining individual investment placements, the following factors shall be considered in priority order:
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