Title
Approving a resolution for the Annual Investment Policy.
Summary
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 changes to the policy include minor re-wording of a few areas. The Authorized Broker/Dealer list has been updated. UBS Financial Services has been removed due to lack of response for quotes on short-term investments. Stifel has been added at the recommendation of the City's investment consulting firm, Valley View. Valley View has received competitive responses on other bids from Stifel and recommend the City of Pflugerville amend the Investment Policy to include as a broker/dealer. The redline version of the policy is attached for your review.
Valley View Consulting will be present to answer any questions.
Prior City Council Action
City Council last approved the Investment Policy 11/9/2021
Deadline for City Council Action
11/29/2022
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 __ Date Completed: ___________
Supporting documents attached:
Investment Policy Redlined
Investment Policy
Recommended Action
Approve the Annual Investment Policy tonight