The City’s investments are governed by the Public Funds Investments Act (PFIA) under Chapter 2256 of the Government Code.

Section 2256.005(f) of the Government Code requires the City to designate one or more Investment Officers to be responsible for the investment of its funds, consistent with the investment policy adopted by the City Council. The authority granted to the City’s Investment Officers under Chapter 2256 is effective until rescinded by the City Council or until the officer’s employment with the City terminates.

Finance recommends that the following individuals be designated as Investment Officers: Razeeda Boochoon, Alka Shah, and Jennifer Brown, with Jennifer Brown continuing to be designated as the Investment Program Manager. Jennifer Brown is replacing Justin Alderete as an Investment Officer, as he is no longer employed by the City.

Recommendations for the Investment Officers and Investment Program Manager were reviewed with the Finance/Audit Committee at their January 17th meeting. The Committee concurred with the proposed changes.

Staff recommends approval of Resolution No. 19-01, designating Investment Officers and Investment Program Manager.