Finance and Audit Commission
Agenda clips
Summary cards
The agenda allows members of the public to speak for up to three minutes on any topic not listed on the agenda. Speakers must raise their hand using the Zoom “*9” function or speak in person during the designated public comment time.
The commission will examine the current investment policy, which guides how the city invests its funds.
The commission will review a disclosure statement from Insight Investment detailing its advisory services and index benchmarks.
Insight Investment reviews the policy each fiscal year to ensure compliance with state law.
The agenda item titled Government Bonds has no additional details listed.
The agenda item titled Government Agencies has no additional details listed.
The agenda lists cash and cash equivalents and Freddie Mac securities with various rates and amounts.
The agenda item titled ICE BofA has no additional details listed.
The City sets rules for buying supranational securities.
The agenda lists corporate bonds with their interest rates and amounts.
The agenda lists several Apple Inc bond issuances.
The agenda lists several Citibank NA bond issuances.
The agenda lists several PNC Financial Services bond issuances.
The agenda lists several JPMorgan Chase & Co bond issuances.
The agenda lists several Home Depot Inc bond issuances.
Insight Investment reviews the policy each fiscal year for compliance and market relevance.
The Finance and Audit Commission will examine the city’s investment policy that sets minimum credit‑rating limits for securities.
The commission will review and prepare its annual report to be sent to City Council.
The agenda lists several Federal Farm Credit bond issuances.
The agenda lists several American Honda Finance Corp bond issuances.
The commission will review updates to the fiscal year 2026-27 investment policy for the City and the Successor Agency.
The commission is reviewing a Morgan Stanley investment of 3,000,000.00.
The city sets specific limits on how much of its portfolio can be invested in different security types to avoid unreasonable risk.
The commission is reviewing multiple investments in Federal Farm Credit, including amounts such as 1,000,000.00, 2,000,000.00, and 4,000,000.00.
The commission is reviewing a US Bancorp investment of 2,000,000.00 with a maturity date of 07/22/2026.
The commission is reviewing investments in PNC Financial Services with amounts including 1,100,000.00, 1,200,000.00, and 2,500,000.00.
The commission is reviewing Citibank NA investments of 1,500,000.00 and 2,150,000.00.
The commission is reviewing investments in American Honda for 2,300,000.00 and 1,000,000.00.
The commission is reviewing Apple Inc investments of 2,121,000.00 and 1,000,000.00.
The commission is reviewing JPMorgan Chase & Co investments, including two amounts of 1,500,000.00 and one of 1,300,000.00.
The commission is reviewing investments in Home Depot Inc for 3,000,000.00 and 1,200,000.00.
The commission is reviewing a Fannie Mae investment of 3,000,000.00.
The commission reviewed the city’s investment policy, which guides how securities are bought and monitored.
The agenda notes a review of the city’s investment policy and recommendations for strategic changes.
Overnight repo rate is listed as 4.11 with a yield of 1.91.
U.S. GDP for Q4 was revised down from 1.4% to 0.7% annualized.
The commission discussed findings from the OpenGov Transparency Portal and Community Engagement Subcommittee.
The Finance and Audit Commission will receive and file the quarterly investment portfolio reports for March 31, 2026.
The commission will announce that the next regular meeting is scheduled for October 15, 2026.
The commission will present a quarterly update on city grant funding.
The commission will provide feedback on the 2026-27 work plan attachment.
The commission will approve the minutes from the April 16, 2026 Finance and Audit Commission meeting.
The agenda lists corporate bonds such as 3M Company 2.25% (due 19 Sep 2026) and Apple Inc 2.9% (due 12 Sep 2027).
The agenda notes ICE BofA as a broker‑dealer without additional details.
The agenda lists a line item titled “Government Agencies.”
The agenda includes a line item titled “Government Bonds.”
A disclaimer document about investment advisory services is attached.
The City can invest in supranational securities rated “AA” or higher, limited to 30% of the portfolio.
The commission will select a chair and a vice chair.
The city’s investment advisor, Insight Investment, reviews the policy each fiscal year for compliance and market trends.
The policy requires the Administrative Services Director to notify the City Manager if a security’s rating falls below the minimum.
The Commission presented its work‑plan goals, including an annual review of the investment policy and quarterly review of investment portfolio performance.
