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Milpitas council adopts 2025–26 investment policy; staff to issue RFPs for advisory contracts
Summary
The City Council unanimously adopted the city’s annual investment policy for fiscal year 2025–26. Finance staff summarized portfolio size, governance, risk priorities and next steps, including pending requests for proposals for external investment advisers.
The Milpitas City Council on Oct. 28 adopted the city’s annual investment policy for fiscal year 2025–26 after a staff presentation summarizing governance, portfolio performance and planned administrative changes.
What the policy does: Finance Director Luz Cofresti (transcribed name) told the council the policy is an annual legal requirement that establishes guidelines and controls for managing city funds. The policy emphasizes three priorities — safety (preserve capital), liquidity (meet operating needs) and return (market‑rate return commensurate with risk) — in that order, and it outlines authorized investments, prohibited practices and internal controls.
Portfolio and management details: Staff reported total…
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