Oxnard CFO recommends city invest in California Asset Management Program

Javier Chacoyen Lazaro, chief financial officer for the City of Oxnard, told the council the city should adopt a resolution authorizing investment of city monies in the California Asset Management Program and should authorize the mayor to complete related documents and open CAMP accounts.

Chacoyen Lazaro said CAMP is a California joint powers authority that provides professional investment services to public agencies, was established in 1989, and manages more than $20 billion in assets. He described two CAMP options: the CAMP Pool, which he said provides same-day liquidity, unlimited transactions, no minimum investment and monthly interest payments; and CAMP Term, which he said offers maturities from 60 days to one year, a $1,000,000 minimum and the opportunity to lock in rates.

The presentation cited state law and the city’s investment policy as the legal basis for investing in a local government investment pool. Chacoyen Lazaro referenced California government code and the City of Oxnard’s fiscal year 2025–26 investment policy as governing authorities that give the council investment and contracting authority.

Chacoyen Lazaro said CAMP’s membership includes other local jurisdictions, naming Ventura County, Simi Valley and Thousand Oaks as nearby participants, and gave participant counts and city counts as presented. He also described credit ratings and the program’s governance by a board of trustees composed of government finance professionals.

The presentation recommended two actions: adoption of a resolution authorizing investment of city monies in CAMP, and authorization for the mayor to complete documents and open CAMP accounts. The transcript records only the presentation and does not record a council vote or formal action on the recommendation.

The presentation concluded with a request that the council consider those two authorizations; the transcript does not show further debate, a motion, or a vote.