REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Jason Schmitt, City Treasurer
VIA: Jason Schmitt, City Treasurer
PREPARED BY: Jason Schmitt, City Treasurer
Subject:
title
Adopt Resolution No. 2026-42 approving the 2027 Investment Policy and Receive and File the City Treasurer’s Q1 FY2026-2027 Quarterly Investment Report
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Statement of Issue:
Pursuant to the California Government Code, the Treasurer of the local agency may render an annual statement of investment policy to the legislative body for consideration and adoption. The City Treasurer, with the assistance of the Investment Advisory Board, has prepared the updated investment policy.
Receive and File the City Treasurer’s Q1 FY2026-2027 Quarterly Investment Report, pursuant to Section 18.0 of the Investment Policy of the City of Huntington Beach.
Financial Impact:
Not Applicable.
Recommended Action:
recommendation
Adopt Resolution No. 2026-42, “A Resolution of the City Council of the City of Huntington Beach Approving the Statement of Investment Policy 2027.” Receive and File the City Treasurer’s Q1 FY2026-2027 Quarterly Investment Report, pursuant to Section 18.0 of the Investment Policy of the City of Huntington Beach.
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Alternative Action(s):
Do not approve recommended action and direct staff accordingly.
Analysis:
The City Treasurer is responsible for the administration of the investments of the City of Huntington Beach. The purpose of the Investment Policy is to establish cash management and investment guidelines for the investment of the City’s unexpended cash balances, which exclude employee retirement funds, funds governed by bond indenture agreements, or other funds managed separately. This policy shall apply to each investment transaction and the entire portfolio, which must comply with the California Government Code, Section 53600 through 53683, and all other applicable laws and regulations.
The City’s Investment Policy may be rendered annually to the City Council to ensure its consistency with the overall objectives of preservation of principal, liquidity, and return. The attached Investment Policy has been reviewed by the City’s Investment Advisory Board and approved as to form by the City Attorney.
The investment policy has been previously reviewed and certified by the California Municipal Treasurer’s Association and will be reviewed and certified again this year after Council approval. The CMTA was founded in 1958 with a mission to lead in promotion and enhancing the fiduciary responsibility and integrity of individuals responsible for public funds. The Investment Advisory Board reviewed the policy at its November 5, 2026 meeting.
Environmental Status:
Pursuant to CEQA Guidelines Section 15378(b)(5), administrative activities of governments that will not result in direct or indirect physical changes in the environment do not constitute a project.
Strategic Plan Goal:
Goal 2 - Fiscal Stability, Strategy A - Consider new revenue sources and opportunities to support the City's priority initiatives and projects.
For details, visit www.huntingtonbeachca.gov/strategicplan.
Attachment(s):
1. Resolution No. 2026-42
2. City of Huntington Beach 2027 Investment Policy
3. Treasurer’s Quarterly Investment Report for Q1 FY2026-2027