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The restricted bond proceeds are invested in compliance with this investment <br /> policy and applicable bond resolutions. Individual employee retirement contribution <br /> funds and deferred compensation are excluded from this policy. <br /> 2.2 Poolinq of Funds <br /> Except for cash in certain restricted and special funds, the City of Santa Ana will <br /> consolidate cash balances from all funds to maximize investment earnings and to <br /> increase efficiencies with regard to investment pricing, safekeeping and <br /> administration. Investment income will be allocated to the various funds based on <br /> their respective participation and in accordance with generally accepted <br /> accounting principles. <br /> 3.0 PRUDENCE <br /> 3.1 Standard of Care— Prudent Investor <br /> The City investment program shall be managed in a professional and prudent manner <br /> worthy of the public trust and review. The standard of prudence to be used by City <br /> Investment Officials shall be the "prudent investor rule" standard and shall be applied in <br /> the context of managing the overall investment portfolio. <br /> The "prudent investor rule" provides, pursuant to California Government Code Section <br /> 53600.3, that investments shall be made with judgment and care. When investing, <br /> reinvesting or managing public funds a trustee shall act with care, skill, prudence and <br /> diligence under circumstances then prevailing. Investment officers acting in accordance <br /> with written procedures and this investment policy and exercising due diligence shall be <br /> relieved of personal responsibility for an individual security's credit risk or market price <br /> changes, provided deviations from exceptions are reported in a timely fashion and the <br /> liquidity and the sale of securities are carried out in accordance with the terms of this <br /> policy. <br /> The City is governed by the California Government Code, Sections 16429.1 and Title 5, <br /> Division 2, Part 1, Chapter 4, entitled Financial Affairs, commencing with section 53630. <br /> Each investment transaction and the entire portfolio must comply with California <br /> Government Code, Sections 53600 and 53635 et seq. and this policy. <br /> 3.2 Written Investment Procedures <br /> City Investment Officials shall establish written procedures consistent with this investment <br /> policy for the operation of the investment program, Procedures should include but not be <br /> limited to: authorized personnel, segregation of duties, internal controls, wire transfer <br /> agreements, daily cash flow review, basis for awarding bids, portfolio inventory, and <br /> reporting. The procedures document is intended to provide guidance for staff and to provide <br /> continuity in the event of an interruption of services of the Treasury and Customer Services <br /> Manager and/or Assistant Finance Director. <br /> City of Santa-Annual Page 2 luly_1 2025 - <br /> Statement of investment Policy June 30,2026 <br /> Resolution No. 2025-019 <br /> Page 6 of 24 <br />