News release
The Santa Clarita Valley Water Agency announced that it has been awarded the Investment Policy Certification by the California Municipal Treasurers Association.
“This certification is a testament to SCV Water’s commitment to maintaining a robust and transparent investment policy that aligns with the highest standards set forth by the State of California Government Code,” the agency said in a news release.
“At SCV Water, having an investment policy that meets all regulatory requirements is essential as it establishes a framework for managing public funds responsibly and transparently,” Rochelle Patterson, chief financial and administrative officer for SCV Water, said in the release.
The CMTA’s Investment Policy Certification is granted to agencies that demonstrate adherence to best practices across 18 critical areas, including Scope, Prudence, Objectives, and Delegation of Authority. SCV Water’s policy was evaluated by a team of three independent CMTA professionals using a comprehensive scoring matrix.
The certification process ensures that SCV Water’s Investment Policy not only meets but exceeds industry standards, the release said, adding that key benefits of this certification include:
- Transparency: The certification process enhances public confidence by demonstrating that SCV Water’s Governing Body operates with transparency.
- Due Diligence: The rigorous review process confirms that due diligence has been thoroughly conducted on SCV Water’s Investment Policy.
- Compliance: The policy includes citations of relevant California Government Code sections, ensuring full compliance with state regulations.
- Audit Readiness: This certification aids in satisfying auditors by providing a well-documented and reviewed Investment Policy.
Since its inception in 2012, the CMTA’s Investment Policy Certification program, supported by the California Debt and Investment Advisory Commission, has served as a benchmark for governmental agencies across California, including special districts, cities, and counties. This program not only promotes best practices but also enhances the knowledge and expertise of municipal treasurers, the release said.
