The City of Burbank has received Investment Policy Certification from the California Municipal Finance Association (CMTA). This certification recognizes that Burbank’s investment policies comply with California government law and meet the highest standards of best practices in 18 key areas.
The certification process evaluates investment policies across several key topics, including scope, prudence, ethics, authorized financial dealers and institutions, diversification, internal controls, and more. Burbank’s policy was reviewed by three independent CMTA experts who evaluated the policy using a detailed scoring matrix.
“We are proud to have received one of the highest scores in the CMTA’s Investment Policy Certification Program, a prudent investor standard when investing City of Burbank taxpayer dollars. , full compliance with state law, and a testament to our commitment to transparency,” said City Treasurer Krystle Palmer.
CMTA was founded in 1958 by a small group of local treasurers from Northern and Southern California whose primary interest was improving the functioning of local government. The CMTA is a professional organization governed by active civil servants who represent local government.
For more information about CMTA and the Investment Policy Certification Program, please visit www.cmta.org.
