HomeMy WebLinkAbout2025-11-20; Investment Review Board; 01; Annual Work Plan for the Investment Review BoardMeeting Date: Nov. 20, 2025
To: Investment Review Board
From: Christian Peacox, City Treasurer
Staff Contact: Katie Schroeder, Senior Accountant
katie.schroeder@carlsbadca.gov, 442-339-5246
Subject: Annual Work Plan for the Investment Review Board
District: All
Recommended Action
Adopt a resolution accepting the Calendar Year 2026 Investment Review Board Work Plan.
Executive Summary
The Investment Review Board was established through the City of Carlsbad Investment Policy
adopted by the City Council on May 13, 2025, is being asked to review and approve the
proposed work plan for the calendar year 2026 as required by the Carlsbad Municipal Code
Section 2.15.020(C).
Discussion & Fiscal Analysis
The Investment Review Board provides oversight of the city’s investment activities in
accordance with the primary objectives of safety, liquidity and return on investment. The Board
also is tasked with the annual review of the city’s investment policy prior to final approval by
the City Council.
Next Steps
The Investment Review Board will focus efforts on the activities in the approved work plan.
Environmental Evaluation
The proposed action is not a “project” as defined by California Environmental Quality Act
Section 21065 and CEQA Guidelines Section 15378(b)(5) and does not require environmental
review under CEQA Guidelines Section 15060(c)(3) and 15061(b)(3) because the proposed
action to review and approve an annual work plan is an organizational or administrative
government activity that does not involve any commitment to any specific project which may
result in a potentially significant physical impact on the environment. Any subsequent action or
direction stemming from the proposed action may require preparation of an environmental
document in accordance with CEQA or the CEQA Guidelines.
Exhibits
1.Resolution – Investment Review Board Work Plan
INVESTMENT REVIEW BOARD
Nov. 20, 2025 Item #1 Page 1 of 3
Exhibit 1
INVESTMENT REVIEW BOARD
2026 Work Plan
Mission Statement
The Investment Review Board holds regular quarterly meetings acting only in an advisory role.
The Board reviews investment operations providing oversight of the protection and
management of the principal monies entrusted to the Office of the City Treasurer in compliance
with all federal, state and local laws governing the investment of monies under the control of
the City Treasurer; providing oversight of the investment portfolio’s liquidity and ability to meet
all operating requirements which might be reasonably anticipated; and providing oversight of
investment portfolio’s return on investment within the parameters of prudent risk
management, federal, state and local laws, and the city’s Investment Policy.
Composition
The Investment Review Board is composed of the City Treasurer, acting as the chair, and four
City Treasurer- appointed members approved by the City Council.
Goals & Tasks, calendar year 2026
Quarterly investment oversight of the safety, liquidity, and return with all applicable laws and
best practices.
Annual Investment Policy review of changes that will be presented to City Council for approval.
Attachment A
Nov. 20, 2025 Item #1 Page 3 of 3
ANNUAL WORK PLAN
Zach Korach, Finance Director
November 20, 2025
ANNUAL WORK PLAN
Municipal Code 2.15.020 (C):
Each board or commission shall provide to the City Council for its approval an
annual work plan of activities to be undertaken and a subsequent report of its
accomplishments.
Goals & Tasks, calendar year 2026:
•Quarterly investment oversight of the safety, liquidity, and return with all
applicable laws and best practices.
•Annual Investment Policy review of changes that will be presented to City
Council for approval.
DISCUSSION & QUESTIONS