Title
Approving a resolution of the City of Pflugerville, Texas, reviewing and approving the Investment Policy of the City of Pflugerville, Texas.
Summary
This resolution documents the City Council review of the City's Investment Policy which, by state law, must be reviewed annually. The attached document includes track changes to the training requirements that were approved by the last legislature. The changes were reviewed and recommended for approval by the Finance and Budget Committee at its July 28, 2016 meeting.
The legislative change, found in Section V, amends the number of training hours required by the Investment Officer. Prior to this change, the Investment Officer was required to obtain 10 hours of investment related training within the first 12 months of assuming investment duties and then 10 hours every two years subsequent. The revisions made by the legislature do not change the initial 10 hour training requirement. The recurring training requirement has been reduced from 10 hours to 8 hours every two years.
Deadline for City Council Action
None.
Fiscal Impact
None.
Staff Recommendation
Approve the resolution.
Drafter
Lauri Gillam
Assistant City Manager