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CITY OF PALM DESERT
OFFICE OF THE CITY TREASURER
STAFF REPORT
REQUEST: Approval of City of Palm Desert Treasury Policies and Procedures,
As Amended
DATE: February 8, 2007
CONTENTS: Palm Desert Treasury Policies and Procedures
Recommendation:
By minute motion: That the City Council adopt the City of Palm Desert Treasury
Policies and Procedures, as amended.
Background:
City policy requires that this manual be updated annually. This is the 2007 update
Most of the changes this year are minor. Policy deletions are highlighted with striker;
policy additions are highlighted with redlining.
Some of the changes are:
➢ Individual names have been replaced with job titles due to possible turnover.
➢ The Finance Committee's name has been updated.
• The Deputy City Treasurer's job title has been updated.
➢ GASB No. 31 has replaced GASB No. 3 (accounting regs on measuring investment
risk) since it supersedes it.
➢ Individual bank, trustee, and custodian names have been replaced with generic
names due to possible turnover.
The Audit, Investment and Finance Committee has reviewed these changes, and has
unanimously recommended them for adoption by the City Council.
Staff Report
Approval of Amended Treasury Policies and Procedures
February 8, 2007
Page 2 of 2
Submitted By:
Paul S. Gibson, CCMT, City Treasurer
Approved By:
Carlos L. Ortega, City Manager
CITY COUNCIL, ACTION:
APPROVED I DENIED
RECEIVED OTHER
MEETING DATE - g - D'7
AYES : fiert5on Ser9W5on F:ne4. sp e (, Ke i
NOES: None,
ABSENT: Awe_
ABSTAIN: None..
VERIFIED BY:
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VERIFIED BY:
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