Title
Approving a resolution reviewing and readopting the Investment Policy of the City of Pflugerville.
Summary
Texas Government Code, Chapter 2256, also known as the Public Funds Investment Act (PFIA), provides the basis for the investment of public funds. Under this guidance, the City has adopted an investment policy, which must be reviewed annually under state law. The City's policy was last readopted by Council on September 10, 2019. The policy has been amended to add the Deputy City Manager and the Assistant Finance Director as Investment Officers and to increase scope and controls. The Investment Policy was reviewed and approved by the Finance and Budget Committee at the October 22, 2020 meeting.
Prior City Council Action
None
Deadline for City Council Action
None
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: _10/13/2020___
Supporting documents attached:
Resolution
Investment Policy
Investment Policy - Redlined
Recommended Action
Approve the resolution readopting the City's Investment Policy