To: Mark R. Hafner, City Manager
From: Aaron Rector, Director of Finance
Subject:
Title
Consider a resolution adopting and amending the City of Keller Investment Policy as approved and recommended by the City of Keller Finance Committee.
Action Requested:
Consideration of approval of the proposed resolution as presented.
Background:
As required by the Investement policy, Council reviews and, if needed, amends the Investment policy annually. The review helps ensure the policies are up to date, in compliance with the Public Funds Investemnt Act (PFIA), and reflect best practices. The proposed policy revisions will update policies to match the PFIA changes as it relates to authorized and acceptable investments, authorized broker/dealers requirements, and safekeeping and collateralization requirements.
Budget Impact:
Not applicable.
Financial Considerations:
Not applicable.
Citizen Input/Board Review:
The City of Keller Finance Committee reviewed and approved the proposed revisions to the Investment Policy at their meeting on August 22, 2017.
Legal Review:
Not applicable.
Alternatives:
City Council has the following alternatives:
- Approve as submitted
- Approve with changes
- Denial
Council Action:
Staff recommends approval of the proposed resolution as presented.