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Conejo Recreation Park District <br />CRPD <br />GENERAL MANAGER <br />Jim Friedl <br />DATE: January 4, 2024 <br />TO: Board of Directors <br />FROM: Jim Friedl, General Mana e <br />SUBJECT: Investment Policy Update -- <br />RECOMMENDATION <br />Adopt the District's updated investment policy. <br />BACKGROUND <br />BOARD OF DIRECTORS <br />George M. Lange, Chair <br />Doug Nickles, Vice -Chair <br />Chuck Huffer, Director <br />Nellie Cusworth, Director <br />Marissa Buss, Director <br />GENERAL MANAGER EMERITUS <br />Tex Ward <br />Government Code requires the Board to annually authorize the delegation of investment authority, <br />which is best accomplished by reviewing the District's investment policy. The policy was last <br />reviewed and adopted on November 3, 2022. <br />In November of 2022, the District updated the policy to allow for investment outside of the state <br />or county pools to address the needs of the Mountains Recreation and Conservation Authority <br />(MRCA). The MRCA is a Joint Powers Authority exercising the joint powers of the Santa Monica <br />Mountains Conservancy (SMMC), the Conejo Recreation and Park District (CRPD), and the <br />Rancho Simi Recreation and Park District (RSRPD). In accordance with Section 10.2. of the Joint <br />Powers Agreement (JPA), the General Manager of the District serves as the Financial Officer of <br />the MRCA and performs the functions stated in Government Code Section 6505.5. As a result of <br />this relationship, the District's investment policy, also serves as the investment policy for the <br />MRCA. <br />Recently, funds advanced to the MRCA are subject to agreement terms that disallow investment <br />in the current pools authorized by the District's investment policy and/or require sub -accounting <br />to ensure that any earnings are applied to the project providing the advance. Neither the state or <br />county pools are able to provide sub -accounting or multiple segregated accounts to the MRCA to <br />meet the agreement terms of these advanced funds. <br />ADMINISTRATIVE OFFICES <br />V 403 West Hillcrest Drive, Thousand Oaks, CA 91360-4223 <br />C. 805-495-6471 1 6 805-497-3199 1c�D parks@crpd.org I OD www.crpd.org <br />