HomeMy WebLinkAboutNC Comprehensive Report (Finance) (42)CITY OF NATIONAL CITY
Notes to the Basic Financial Statements
(Continued)
(2) Cash and Investments, (Continued)
Investments Authorized by the California Government Code and the City's Investment
Policy
The table below identifies the investment types that are authorized for the City by the
California Government Code and the City's investment policy. The table also identifies
certain provisions of the California Government Code (or the City's investment policy, if
more restrictive) that address interest rate risk and concentration of credit risk. This table
does not address investments of debt proceeds held by fiscal agent that are governed by
the provisions of debt agreements of the City, rather than the general provisions of the
California Government Code or the City's investment policy.
Investment Types
Authorized by State Law
Local Agency Bonds
U.S. Treasury Obligations
U.S. Agency Securities
Banker's Acceptances
Commercial Paper
Negotiable Certificates of Deposit
Repurchase Agreements
Reverse Repurchase Agreements
Medium -Term Notes
Mutual Funds
Money Market Mutual Funds
Mortgage Pass -Through Securities
County Pooled Investment Funds
Local Agency Investment Fund (LAIF)
JPA Pools (other investment pools)
Authorized
By Investment *Maximum
Policy Maturity
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
5 years
5 years
5 years
180 days
180 days
2 years
1 year
92 days
5 years
N/A
N/A
5 years
N/A
N/A
N/A
*Maximum
Percentage
Of Portfolio
None
None
None
5%
15%
30%
None
20% of base value
30%
15%
20%
20%
None
None
None
*Maximum
Investment
in One Issuer
None
None
None
5%
10%
None
None
None
None
10%
10%
None
None
None
None
* Based on state law requirements or investment policy requirements, whichever is more restrictive.
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