Title
Approving a resolution making revisions to the City's Investment Policy.
Summary
Finance and Budget Committee approved of the proposed revisions to the City's Investment Policy on October 28, 2021.
In accordance with the Texas Public Funds Investment Act, the City Council must review and approve the Investment Policy to ensure that it remains in compliance with the law. The City has recently entered into a contract with Valley View Consulting to serve as Investment Advisor and one of their duties is to review the Policy and make any recommendations for changes. Valley View accomplished this task and made a number of recommended changes to accommodate the new investment strategies and bring the Policy into full legal compliance.
Prior City Council Action
City Council last approved the Investment Policy in October 2020.
Deadline for City Council Action
November 2021
Funding Expected: Revenue __ Expenditure __ N/A _x_
Budgeted Item: Yes __ No __ N/A x__
Amount: ___N/A_____
1295 Form Required? Yes __ No _x_
Legal Review Required: N/A __ Required _x_ Date Completed: ___________
Supporting documents attached:
Proposed Investment Policy
Recommended Action
Finance and Budget Committee, staff, and the City's Investment Advisor recommend approval of the proposed Investment Policy