Title
Consider/Discuss/Act on a Resolution Adopting the 2011 Investment Policy
Summary
MEETING DATE: October 18, 2011
DEPARTMENT: Finance
CONTACT: Rodney Rhoades, Finance Director
RECOMMENDED CITY COUNCIL ACTION:
• Adopt the investment policy.
ITEM SUMMARY:
• Annual review of the City’s investment policy is required to comply with the state statute (Public Funds Investment Act, Chapter 2256 and Chapter 2257 of the Texas Government Code as revised by H.B. 2226).
• The attached policy conforms to all recent legislative changes to the Public Funds Investment Act. A summary of recent legislative changes is also attached for your review and consideration.
BACKGROUND INFORMATION:
• As required by the Public Funds Investment Act, the City’s investment policy must be reviewed by the City Council and approved by the City Council annually.
• The last change to the investment policy was made and approved by resolution by the City Council on April 20, 2010.
SPECIAL CONSIDERATIONS: None
FINANCIAL SUMMARY: None
BOARD OR COMMISSION RECOMMENDATION: None