File #: 11-486    Name: 2011 Investment Policy
Type: Resolution Status: Approved
In control: City Council Regular Meeting
On agenda: 10/18/2011 Final action: 10/18/2011
Title: Consider/Discuss/Act on a Resolution Adopting the 2011 Investment Policy
Attachments: 1. Resolution, 2. 2011 Investment Policy - Redline, 3. 2011 Investment Policy, 4. Summary of Changes

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