Purpose
The Bear Valley Water District formulated the following investment policy and procedures in compliance with Government Code sections 53600 et seq. for the prudent and systematic investment of District funds in support of the District's overall mission.
This policy provides that the District's General Manager, if directed by the Board of Directors, is to manage the investment program according to the primary objectives of the District and periodically prepare a statement of investment positions to be considered by the Board at a public meeting, according to Government Code 53646(a). The District's investment process and policy are subject to annual review and evaluation at a public forum.
Objectives
The primary objectives of the District's investment activities, in order of priority, are:
- Safety — The safety of principal is the foremost objective of the District's investment program. Investments are undertaken in a manner that strives to preserve the District's capital.
- Liquidity — The investment portfolio maintains sufficient liquidity to enable the District to meet all operating requirements that might reasonably be anticipated.
- Yield — Yield becomes a consideration only after the basic requirements of safety and liquidity have been met. The portfolio is designed to attain a market rate of return throughout budgetary and economic cycles, taking into account investment risk, constraints and the cash-flow characteristics of the portfolio.
Related Documents
- Download
- Download