Title
Consider/Discuss/Act on a Resolution Adopting the Investment Policy for Fiscal Year 2016-2017
Summary
COUNCIL GOAL: Financially Sound Government
MEETING DATE: September 20, 2016
DEPARTMENT: Financial Services
CONTACT: Mark Holloway, Interim Chief Financial Officer
RECOMMENDED CITY COUNCIL ACTION:
• Adopt the Fiscal Year 2016-2017 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.
• There are no changes to the financial policy.
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 2015-2016 was approved by City Council on September 15, 2015.
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A