Item Coversheet

Council Communication

Department: Finance
Case/Project No.:
Submitted by: Finance Department 
Resolution 20-174
ITEM 8.F.
Council Action: 7/13/2020
Description

Resolution amending the City's Investment Policy.
Background/Discussion

The City's Investment Policy was last revised in August 2016. Following review of the policy, corrections and revisions were made to the policy requiring that it be adopted in its revised form.

 

The revised policy primarily outlines an increase in the amount of deposits held in any financial institution or designated custodial agency to $30 million per institution. Other changes were made as seen fit.

 

A "redline" copy of the proposed policy is included, showing the changes recommended in the policy along with a clean, final copy of the proposed revised policy. 

Recommendation

Approve the resolution to adopt the revised Investment Policy.
ATTACHMENTS:
DescriptionTypeUpload Date
Revised Investment Policy July 2020_redline versionOther7/2/2020
Revised Investment Policy July 2020Other7/2/2020
Resolution 20-42 Authorized Users to Transact BusinessOther7/6/2020
Resolution 20-174Resolution7/8/2020