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File #: 2019-7850    Version: 1 Name:
Type: Agenda Item Status: Noted and filed
File created: 9/24/2019 In control: City Council
On agenda: 9/24/2019 Final action:
Title: Discuss and consider action to approve the Pflugerville Community Development Corporation (PCDC) Corporate Investment Policy and Reserve Policy.
Attachments: 1. 2019-008 RESOLUTION SIGNED Fund Reserve and Budget and Financial Final, 2. PCDC Fund Reserve Final 7-11-2019, 3. PCDC Investment Policy Final Approved 2019-07-11 copy

Title

Discuss and consider action to approve the Pflugerville Community Development Corporation (PCDC) Corporate Investment Policy and Reserve Policy.

 

Summary

The PCDC Bylaws, approved by City Council action on January 10, 2017, specify that the PCDC Corporate Investment Policy and Reserve Policy shall be prepared and reviewed annually with the PCDC Annual Budget and presented to the City Council for approval with the PCDC Annual Budget. The PCDC President, Treasurer and Council Representative met with staff to review the proposed budget on June 26th and to make recommendations.  The PCDC Board reviewed the PCDC Fund Reserve and Budget Policy and the PCDC Financial Investment Policy on June 29, 2019.  On July 11th, the PCDC Board of Directors unanimously approved a Resolution affirming that the organization was in compliance, approving the policies and forwarding to the City Council for consideration.

 

Prior City Council Action

The City Council last approved the PCDC's Corporate Investment Policy and Reserve Policy with the PCDC Annual Budget on August 28, 2018.

 

Deadline for City Council Action

September 24, 2019.

 

Supporting documents attached:

2019-008 Resolution Fund Reserve and Budget Policy

 

Recommended Action

Discuss and consider action to approve the Pflugerville Community Development Corporation (PCDC) Corporate Investment Policy and Reserve Policy.