Title
Consider/Discuss/Act on a Resolution Adopting the Fiscal Year 2022-2023 Investment Policy
Summary
COUNCIL GOAL: Financially Sound Government
4A: Provide funding and organizational framework to ensure continual economic improvements
MEETING DATE: September 20, 2022
DEPARTMENT: Financial Services
CONTACT: Mark Holloway, Chief Financial Officer
RECOMMENDED CITY COUNCIL ACTION:
• Adopt the Fiscal Year 2022-2023 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 Public Funds Investment Act.
• Suggested changes to the policy include:
O Paragraph consolidation to bring clarity to the Internal Control Audit requirement
(Page 4 of the redline).
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 2021-2022 was approved by City Council on September 7, 2021.
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A