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Agenda Item 26.

City Council Meeting

Meeting Date:	08/15/2023
FROM:	Bill Gallardo

Subject:

Statement of Investment Policy for the City/Brea Successor Agency to the Brea Redevelopment Agency

RECOMMENDATION

Review and approve the City of Brea/Successor Agency to the Brea Redevelopment Agency Statement of Investment Policy.

BACKGROUND/DISCUSSION

By policy, the City Council is required to annually review and adopt an investment policy as recommended by the Investment Advisory Committee for the City and the Successor Agency to the Brea Redevelopment Agency.

Last year, the City's investment guidelines were broadened to allow additional investment options, and as a result of these prior adjustments, the City's investment advisor, Chandler Asset Management, is not recommending any new changes to this year's investment policy. In addition, after reviewing this policy at their meeting on July 24, 2023, the Investment Advisory Committee made a limited number of grammatical and formatting changes to the document. No significant adjustments to the Statement of Investment Policy for the City of Brea/Successor Agency to the Brea Redevelopment Agency are recommended.

The proposed Statement of Investment Policy for the City of Brea/Successor Agency to the Brea Redevelopment Agency is attached for the City Council's consideration.

COMMISSION/COMMITTEE RECOMMENDATION

The Investment Advisory Committee reviewed this item at their July 24, 2023 meeting and it was recommended for City Council approval.

FISCAL IMPACT/SUMMARY

There is no fiscal impact from the adoption of the Statement of Investment Policy.

RESPECTFULLY SUBMITTED:

William Gallardo, City Manager
Prepared by: Faith Madrazo, Financial Services Manager-Revenue and
Monica Lo, Deputy Director of Administrative Services
Concurrence: Kristin Griffith, Director of Administrative Services

Attachments
Proposed Investment Policy
Investment Report