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Oxnard staff recommends council adopt 2025–26 investment policy and retain investment authority
Summary
City staff presented the City of Oxnardannual investment policy for fiscal year 202526 2026 and recommended the City Council adopt the policy and keep investment authority rather than delegating it; staff outlined alternatives including delegating to the chief financial officer, an independent financial professional or the city treasurer.
Eric Sonstegard, assistant city manager for the City of Oxnard, told the City Council on July 1 that staff recommends the council "adopt a resolution approving the fiscal year 2025, 2026 investment policy for the City of Oxnard" and provide direction on delegation of investment authority.
The recommendation follows annual review requirements in state law and the city's investment policy. "California Government Code section 53646," Sonstegard…
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