Title
Approving a resolution titled RESOLUTION OF THE CITY OF PFLUGERVILLE, TEXAS REVIEWING AND AMENDING THE INVESTMENT POLICY OF THE CITY OF PFLUGERVILLE, TEXAS.
Summary
This resolution documents the City Council review of the City's Investment Policy. The proposed draft includes administrative amendments. Three proposed amendments remove references to attachments. For example, allthough documents such as the State Investment Act, State Collateral Act and certification form are referenced in the policy, staff and the Finance and Budget Committee do not feel that it is necessary to attach these to the document. The other amendment is to update the reference to the FDIC insurance limit, which is currently $250,000, not the $100,000 stated in the policy. The attached document shows the proposed changes that were reviewed and recommended for approval by the Finance and Budget Committee.
Deadline for City Council Action
None.
Fiscal Impact
None.
Staff Recommendation
Approve the resolution.
Drafter
Lauri Gillam, Assistant City Manager