Title
City Investments Briefing
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Receiving a briefing regarding the City’s investments.
Report
Issue:
Whether to receive a briefing regarding the City’s investments.
Staff Contact:
Kensey Wang, General Accounting Manager, Finance, 360.75.8435
Presenter(s):
Kensey Wang, General Accounting Manager
Background and Analysis:
This briefing is being provided as an annual review of the City’s current investments as well as economic outlook.
Washington State RCW 35A.040.050 authorizes cities to invest funds that are surplus to the immediate need of supporting current expenses. State statute has specific requirements about investment vehicles for public funds. The City’s investment portfolio is managed by the finance department, in partnership with our investment consultant, Government Portfolio Advisors (GPA).
Government Portfolio Advisor’s Chief Operating Officer and Senior Advisor will provide an update regarding the City’s investments.
Climate Analysis:
This agenda item is expected to result in no impact to greenhouse gas emissions.
Equity Analysis:
This agenda item is not expected to further impact known disparities in our community.
Neighborhood/Community Interests (if known):
Members of the community may have an interest in this agenda item as it deals with City finances and fiscal governance.
Financial Impact:
There is no financial impact resulting from this briefing.
Options:
1. Receiving a briefing regarding the City’s investments.
2. Do not receive a briefing regarding the City’s investments.
3. Receive City Investments briefing at another time
Attachments:
None