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Carlsbad committee backs moving proposed investment‑policy changes to City Council; staff proposes removing city staff from committee
Summary
The City of Carlsbad Investment Review Committee voted unanimously on Jan. 15 to forward staff’s proposed annual investment‑policy updates to the City Council and discussed restructuring the committee to avoid Brown Act conflicts.
The City of Carlsbad Investment Review Committee voted unanimously on Jan. 15 to forward staff’s proposed changes to the city’s annual investment policy to the City Council for consideration.
Staff told the committee that an annual review of the investment policy is required under the policy itself and that proposed revisions address investment objectives (safety, liquidity, return), ethics and conflicts of interest, internal controls, authorized dealers and institutions, portfolio strategy review and reporting. Staff said the proposed policy will be brought to the City Council for consideration on Feb. 25.
The committee then discussed potential changes to the committee’s composition and naming to align with California’s Brown Act requirements and improve transparency. Staff recommended removing city…
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