TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager/Chief Executive Officer
SUBJECT: Board Policy 349 - Investment Policy
BRIEFING ITEM
AGENDA PLANNING REQUEST: ☐
RECOMMENDED ACTION(S):
Title
Consider a review of Board Policy 349, Investment Policy, with no recommended amendments.
Staff Contact:
Chris Andrichak, Chief Financial Officer
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
A clear policy on how to invest District funds is essential to safely maximizing investment revenue.
BUDGETARY/FISCAL IMPACT:
There is no budgetary or fiscal impact associated with this report.
BACKGROUND/RATIONALE:
The applicable policy document is attached for reference. Staff reviewed the policy and has determined that no amendments are required.
ADVANTAGES/DISADVANTAGES:
The report does not recommend a course of action with notable advantages or disadvantages.
ALTERNATIVES ANALYSIS:
Staff found no practical alternatives to the course of action recommended in this report.
PRIOR RELEVANT BOARD ACTION/POLICIES:
Staff Report No. 23-027 Board Policy No. 349 - Investment Policy with no amendments
ATTACHMENTS:
1. Board Policy No. 349 with no recommended amendments
Prepared by:
Sue Lee, Director of Revenue Management
Approved/Reviewed by:
Chris Andrichak, Chief Financial Officer
Shayna van Hoften, Interim General Counsel/Chief Legal Officer