Santa Clarita recognized for their 24 years of investment policies
By Signal Staff
Saturday, June 30th, 2018

The city of Santa Clarita’s financial planners were hailed for their prudent investment policies for a 24th consecutive year this week.

Santa Clarita once again garnered the Investment Policy Certificate of Excellence Award from the Association of Public Treasurers of the United States and Canada, for “success in developing a comprehensive written investment policy,” according to a statement issued Thursday by Carrie Lujan, city of Santa Clarita communications manager. The award is a validation of the city’s fiscal investment policy that Santa Clarita has received going back to the mid-’90s.

The award recognizes transparency of process and adherence to policy, among other criteria, said Carmen Magana, director of administrative services for Santa Clarita.

In order to receive certification, investment policies must be carefully reviewed by the association’s Investment Policy Certification Committee, according to the city’s statement. The committee is comprised of 15 public and private sector volunteers from across North America. For a policy to receive certification it must be approved by all reviewers on 18 areas, spelled out in the Model Investment Policy. This policy includes elements deemed essential to a written investment policy, by the Association of Public Treasurers of the United States and Canada, such as policy outline, scope, delegation of authority, ethics and conflicts of interest.

We are keeping the policies current with the law, that we do follow the law or better, and that we do have good due diligence, stewardship and business practices regarding the funds,” Magana said, describing what was reviewed by the Association of Public Treasurers.

While there are guidelines that to an extent dictate what a city can and can’t invest in, the city’s openness and fiscal policy was what earned the recognition, Magana said. “They take a look at (policy) relevance; and they’ll take a look at how relevant the policy is with current standing; are we current with the policy; and are we taking good care of the public’s money.”

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Signal Staff

Signal Staff

Santa Clarita recognized for their 24 years of investment policies

The city of Santa Clarita’s financial planners were hailed for their prudent investment policies for a 24th consecutive year this week.

Santa Clarita once again garnered the Investment Policy Certificate of Excellence Award from the Association of Public Treasurers of the United States and Canada, for “success in developing a comprehensive written investment policy,” according to a statement issued Thursday by Carrie Lujan, city of Santa Clarita communications manager. The award is a validation of the city’s fiscal investment policy that Santa Clarita has received going back to the mid-’90s.

The award recognizes transparency of process and adherence to policy, among other criteria, said Carmen Magana, director of administrative services for Santa Clarita.

In order to receive certification, investment policies must be carefully reviewed by the association’s Investment Policy Certification Committee, according to the city’s statement. The committee is comprised of 15 public and private sector volunteers from across North America. For a policy to receive certification it must be approved by all reviewers on 18 areas, spelled out in the Model Investment Policy. This policy includes elements deemed essential to a written investment policy, by the Association of Public Treasurers of the United States and Canada, such as policy outline, scope, delegation of authority, ethics and conflicts of interest.

We are keeping the policies current with the law, that we do follow the law or better, and that we do have good due diligence, stewardship and business practices regarding the funds,” Magana said, describing what was reviewed by the Association of Public Treasurers.

While there are guidelines that to an extent dictate what a city can and can’t invest in, the city’s openness and fiscal policy was what earned the recognition, Magana said. “They take a look at (policy) relevance; and they’ll take a look at how relevant the policy is with current standing; are we current with the policy; and are we taking good care of the public’s money.”