From
Diana Ortiz
Title
Revisions to Investment Committee
Presenter
Diana Ortiz, Chief Financial Officer
Recommended Action
Approve
Analysis
As you recall, the City Council recently approved an updated Investment Policy, as required by a state law known as the Public Funds Investment Act (PFIA). It identifies membership in the Investment Committee by positions whose titles have changed or are in the process of being reviewed.
With the appointment of a new Assistant CFO, and in order to maintain compliance with the policy, we will further designate Becky L. Brooks to serve Treasurers duties and to serve as Chair of this Investment Committee.
In addition, the position of Controller is presently vacant and under review by Human Resources managers for appropriate classification. You will be kept apprised of any updates to the Investment Committee’s members and roles within the policy.
Financial Consideration
Not applicable