HomeMy WebLinkAbout2026-01-06 Finance Committee Action MinutesFINANCE COMMITTEE
ACTION MINUTES
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Special Meeting
January 6, 2026
The Finance Committee of the City of Palo Alto met on this date in the Community Meeting
Room and by virtual teleconference at 5:30 P.M.
Present In-Person: Burt (Chair), Lythcott-Haims, Reckdahl
Absent:
Call to Order
Public Comment
Agenda Items
1. Recommend the City Council Adopt Revisions to the City’s Investment Policy; CEQA Status –
Not a Project
MOTION: Councilmember Reckdahl moved, seconded by Councilmember Lythcott-Haims, to
recommend the City Council approve revisions to the City’s Investment Policy (Attachment B)
with the following changes:
• In #3 of the General Investment Guidelines section, define “liquid investments”
• Edit #4 of the General Investment Guidelines section to read: “Should the ratio of the
market value of the portfolio to the book value of the portfolio fall below 95 percent,
the Administrative Services Department will report this fact to the City Council quarterly
within a reasonable time frame and evaluate whether there is any risk of holding any of
the securities to maturity.”
• Edit the final sentence of #5 of the General Investment Guidelines section to read: “As
soon as reasonably possible, percentage limitations will be restored as investments
mature in each category.”
ACTION MINUTES
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Sp. Finance Committee Meeting
Action Minutes: 1/6/2026
• In #8 of the Authorized Investment section, reference the California Government Code
limits and collateralization requirements
MOTION PASSED: 3-0
Future Meetings and Agendas
Adjournment: The meeting was adjourned at 7:25 P.M.