The Investment Policy provides guidelines for the prudent investment of the City of Sausalito’s temporary idle cash and outlines the policies for maximizing the efficiency of the City’s cash management system. The ultimate goal is to enhance the economic status of the City while protecting its pooled cash.
The management and oversight responsibility for administering the City’s investments is delegated to the Director of Administrative Services/Treasurer, who shall monitor and review all investments for consistency with this investment policy.
The investment policies and practices of the City of Sausalito are based on state law and prudent money management. All funds will be invested in accordance with the City’s Investment Policy and the authority governing investments set forth in the California Government Code, Sections 53601 through 53659. The investment policy for bond proceeds is contained in the relevant bond documents approved by the City Council at the time of the issuance of the debt.
The City’s cash management system is designed to accurately monitor and forecast expenditures and revenues, thus enabling the City to invest funds to the fullest extent possible. The City attempts to obtain the highest yield obtainable as long as investments meet the criteria established for safety and liquidity.
• City of Sausalito Investment Policy for 2015-16 Fiscal Year