HomeMy WebLinkAbout2026-02-10; City Council; Resolution 2026-040Exhibit 1
RESOLUTION NO. 2026-040 .
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, APPROVING THE INVESTMENT REVIEW BOARD WORK PLAN
FOR 2026
WHEREAS, the City Council of the City of Carlsbad, California has determined that annual work
plans ensure boards and commissions are working in line with priorities of the City Council; and
WHEREAS, Chapter 2.15 of the Carlsbad Municipal Code requires that each board or
commission provide to the City Council for its approval an annual work plan of activities to be
undertaken by the board or commission and a subsequent report of its accomplishments; and
WHEREAS, Chapter 2.43 of the Carlsbad Municipal Code details the duties and composition of
the Investment Review Board; and
WHEREAS, at the Investment Review Board quarterly meeting on Nov. 20, 2025, staff assisted
with the preparation of the work plan that is consistent with the duties described in Carlsbad Municipal
Code Chapter 2.43; and
WHEREAS, the Investment Review Board acts in an advisory role and provides 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, and the city’s Investment Policy; and
WHEREAS, on Nov. 20, 2025, the Investment Review Board voted unanimously to accept the
annual work plan and is recommending that the City Council approve the plan.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad, California, as
follows:
1.That the above recitations are true and correct.
2.The proposed action is not a “project” as defined by California Environmental Quality
Act, or CEQA, Section 21065 and CEQA Guidelines Section 15378(b)(5) and does not
require environment review under CEQA Guidelines Section 15060(c)(3) and
15061(b)(3), because the proposed action to accept the Investment Review Board’s
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
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stemming from the proposed action may require preparation of an environmental
document in accordance with CEQA or the CEQA Guidelines.
3.That the City Council accepts the calendar year 2026 Investment Review Board Work
Plan, attached as Attachment A.
PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of
Carlsbad on the 10th day of February, 2026, by the following vote, to wit:
AYES: Blackburn, Bhat-Patel, Acosta, Burkholder, Shin.
NAYS: None.
ABSTAIN: None.
ABSENT: None.
______________________________________
KEITH BLACKBURN, Mayor
______________________________________
SHERRY FREISINGER, City Clerk
(SEAL)
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INVESTMENT REVIEW BOARD
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
2026 Work Plan
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