Title
Consider/Discuss/Act on a Resolution Adopting the Investment Policy for Fiscal Year 2015-2016
Summary
COUNCIL GOAL: Financially Sound Government
MEETING DATE: September 15, 2015
DEPARTMENT: Financial Services
CONTACT: Rodney Rhoades, Chief Financial Officer
RECOMMENDED CITY COUNCIL ACTION:
• Adopt the Fiscal Year 2015-2016 Investment Policy
ITEM SUMMARY:
• Annual review of the City’s investment policy is required to comply with the state statute, Public Funds Investment Act, Chapters 2256 & 2257 of the Texas Local Government Code.
• Suggested changes to the policy include:
o Remove reference to prior year legislative change (Page 1)
o Update titles of investment officers (Pages 3 & 4)
o Update training requirements for investment officers to reflect 2015 legislative change (Page 4)
BACKGROUND INFORMATION:
• As required by the Public Funds Investment Act, the City’s investment policy must be approved by the City Council annually.
• The Investment Policy for Fiscal Year 2014-2015 was approved by City Council on September 16, 2014.
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A