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Committee approves annual investment policy update effective Jan. 1, 2026
Summary
The committee reviewed and approved an annual update to the city's investment policy with no substantive changes; staff clarified language about a 5-year laddered approach and auditors reported no findings as of June 30. The motion passed 3–0 with two members absent.
The Financial Review Committee on Oct. 28 reviewed its annual investment policy update and voted to recommend the document move forward for approval, with the policy set to be effective on Jan. 1, 2026.
Staff said they were "not recommending any substantive changes to the policy," and noted a clarification to the wording describing how the city implements a "5 year laddered" investment approach and related targets. Staff also said auditors reviewed investments and the policy as of June 30 and "found no ... there were no findings," indicating compliance with the policy.
A committee member moved to approve the updated investment policy and the committee voted 3–0 with two members absent. Member Killebrew, Member Riggs and Chair Mitchell voted in favor.
Staff did not propose additional follow-up tasks. The committee’s approval was procedural: the staff recommended changes will proceed to the city council (or stated governing body) for final action.
