Santa Fe Springs Receives Investment Policy Certification
August 13, 2024
SANTA FE SPRINGS, Calif. – Santa Fe Springs announced this week that the City has received the Investment Policy Certification by the California Municipal Treasurers Association (CMTA).
This Investment Policy Certification recognizes that CMTA has validated that the Santa Fe Springs’ Investment Policy adheres with the State of California Government Code and meets the program requirements within 18 different topics areas deemed to be best practices for investment policies.
Those topics include: Scope, Prudence, Objective, Delegation of Authority, Ethics and Conflicts of Interest, Authorized Financial Dealers and Institutions, Authorized and Suitable Investments, Review of Investment Portfolio, Investment Pools/Mutual Funds, Collateralization, Safekeeping and Custody, Diversification, Maximum Maturities, Internal Controls, Performance Standards, Reporting, Investment Policy Adoption and Glossary.
Once a policy is received by CMTA, it is independently evaluated using a scoring matrix by three separate CMTA professionals. When the agency receives a passing score, the Investment Policy earns the ‘Certified’ distinction.
“We are deeply honored to receive this investment policy certification from CMTA, which reflects our commitment to responsible and transparent financial management and sustainability. This achievement wouldn’t have been possible without the dedicated efforts of our finance team, whose hard work ensures that our City’s resources are managed with the utmost care. We are grateful for the trust placed in us by our residents and will continue to uphold the highest standards of financial practices,” said Mayor Jay Sarno.
To enhance the municipal treasurer’s role, CMTA has developed a number of certification programs to reflect best practices and increase the public’s knowledge of government financial literacy. The Investment Policy Certification program began in 2012 with the support from the California Debt and Investment Advisory Commission. It is open to all government agencies within the State of California including special districts, cities, and counties.
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