Laserfiche WebLink
an overall portfolio. Investment officers acting in accordance with written <br />procedures and the investment policy and exercising due diligence shall be <br />relieved of personal responsibility for an individual security's credit risk or <br />market price changes, provided deviations from expectations are reported <br />in a timely fashion and appropriate action is taken to control adverse <br />developments. <br />4.0 OBJECTIVE <br />The primary objectives, in priority order, of the District's investment activities shall <br />be: <br />SAFETY: Preserving and protecting capital is the foremost objective <br />of the investment program. Investment activities shall be undertaken in a <br />manner that seeks to ensure the preservation of capital. Investment <br />officers shall seek to avoid capital loses due to credit risk and market risk. <br />Diversification of the portfolio will help insure that portfolio risk is spread <br />over a variety of authorized investment types. <br />LIQUIDITY:The District's investment portfolio will remain sufficiently <br />liquid to enable the District to meet all operating requirements which can <br />be reasonably anticipated. <br />YIELD: (Return on investment) The District's investment strategy <br />shall be designed with the objective of obtaining a market rate of return <br />over budgetary and economic cycles while complying with the list of <br />authorized investments. <br />5.0 DELEGATION OF AUTHORITY- Per Government Code #53607 <br />5.1 Management responsibility for the investment of District funds is delegated <br />to the Administrator, Management Services who shall be responsible for all <br />transactions undertaken. <br />5.1.1 Currently the District limits its investments to state and county <br />investment pools. Staff will come before the Board prior to <br />broadening into additional investments. <br />5.2 All solicitations for investments shall be made to and through the <br />Administrator, Management Services. <br />N <br />