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FRMC recommends board approve investment-policy, surplus property and Social Security resolutions
Summary
At its August 2025 meeting the Finance & Risk Management Committee (FRMC) voted unanimously to recommend the board adopt three resolutions: a revised investment policy, a disposal-of-surplus-property policy, and a resolution to initiate a CalPERS Section 218 process to permit a Social Security enrollment vote for employees.
The Finance & Risk Management Committee of San Diego Community Power on an August 2025 meeting recommended the board adopt three staff-backed resolutions updating the agency's investment policy, establishing a disposal-of-surplus-property policy, and authorizing a process to seek employee approval to enroll in Social Security.
The committee voted 3-0 to recommend adoption of Resolution No. 2025-08, which adds authorization for certain local government investment pools (stable-net-asset-value funds) and clarifies rules for deposits and placement-service bank deposits under California code. Daniel Delaney of Chandler Asset Management summarized the policy changes as focused on “safety, liquidity, and return,” and said the changes add additional liquidity tools for the agency.
The committee also voted 3-0 to recommend adoption of Resolution No. 2025-09, creating a disposal-of-surplus-property policy. Under the policy presented, property with an estimated value above $25,000 must be approved by the board; property between $500 and $25,000 may be disposed of with CEO approval provided the CEO reports back to the board; items below $500 may be discarded as de minimis. Any proceeds from disposals will be directed to the operating budget unless otherwise specified.
Finally the committee voted 3-0 to recommend adoption of Resolution No. 2025-10, which starts a three-step process to authorize a division vote for agency employees to participate in Social Security. The process described by staff calls for (1) board approval to hold the vote, (2) a 90-day notice to employees and the vote itself, and (3) a subsequent board action to complete enrollment via the Section 218 agreement with CalPERS if the employee vote succeeds.
Committee members asked clarifying questions about timing and oversight but did not alter staff recommendations. The committee record shows Director Ntsunza, Vice Chair Esther Suzuki and Chair Yamane voting in favor of each recommendation.
The recommendations will be presented to the full San Diego Community Power board for final action at an upcoming meeting.
