Title
Consider/Discuss/Act on a Resolution Adopting the Fiscal Year 2024-2025 Investment Policy
Summary
COUNCIL GOAL: Financially Sound Government
4A: Provide funding and organizational framework to ensure continual economic improvements
MEETING DATE: September 17, 2024
DEPARTMENT: Financial Services
CONTACT: Mark Holloway, Chief Financial Officer
RECOMMENDED CITY COUNCIL ACTION:
• Adopt the Fiscal Year 2024-2025 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 legislative changes to the Public Funds Investment Act
• No changes are being proposed to the investment 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 2023-2024 was approved by City Council on September 19, 2023.
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A