A.
Pursuant to Government Code § 53601, the city council has the authority to invest or reinvest city funds. This authority may be delegated to the city treasurer. The city treasurer shall have the duty to enforce the investment policy of the city as may be adopted from time to time by the city council. The city council may review the city's investment policy during its consideration of the annual budget or such other time as determined by the city council. The city treasurer shall have the duty to recommend additions, deletions or modifications to the investment policy for consideration by the city council. The city treasurer shall perform those duties established by the general laws of the state relating to the management and investment of city money.
B.
If the city council delegates its authority to invest or reinvest city funds to the city treasurer, the city treasurer shall present monthly reports on investments to the city council.
(Ord. 452 § 11, 2024)