Res 1996-214 - Laserfiche WebLink

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If?# - GOVERNMENT FUND TYPE The City of San Marcos maintains portfolios which utilizes specific investment strategy considerations designed to address the unique characteristics of the fund groups represented in the portfolios: Investment strategies for a commingled pool containing operating, special projects, and special purpose funds, have as their primary objective to assure that anticipated cash flows are matched with adequate investment liquidity. The . secondary objective is to create a portfolio structure which will experience minimal volatility during economic cycles. This may be accomplished by purchasing high'quality, short-to medium-term securities which will complement each other in a laterad or barbell maturity structure. The dollar weighted average maturity of 365 day~_or less will be calculated using the stated final maturity dates of each security. Investment strategies for General debt service funds shall have as the primary objective the assurance of the investment liquidity adequate to cover the debt service obligation on the required payment date. Securities p~rchased should not have a stated final maturity date which exceeds the debt service payment date. Investment strategies for General debt service reserve funds shall have as the primary objective the ability to generate a dependable revenue stream to the appropriate debt service fund from securities with a low degree of volatility. Except as may be required by the bond ordinance specific to an individual issue, securities should be of high quality, with short-to intermediate-term maturities. Volatility shall be further controlled through the purchase of securities carrying the highest coupon available, within the desired maturity an quality range, without paying premium, if at all possible. Such securities will tend to hold their value during economic cycles. 7