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<br />e <br /> <br />e <br /> <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: October 24 2 OS <br /> <br /> <br />Appropriation <br /> <br />Requested By: C nthia B. Alexander <br /> <br />Source of Funds: <br /> <br />Department: Finance <br /> <br />Account Number: <br /> <br />Report: _Resolution: --X-Ordinance: _ <br /> <br />Amount Budgeted: <br /> <br />Exhibits: Investment Policv <br /> <br />Amount Requested: <br /> <br />Exhibits: <br /> <br />Budgeted Item: <br /> <br />YES <br /> <br />NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />The City Council of the City of La Porte originally adopted an Investment Policy on January 13, ]992, by Ordinance <br />No. 1802. The Public Funds Investment Act requires that a City must present the Investment Policy to Council <br />annually for review or amendment. <br /> <br />On October 24, 2005, the Finance Department presented the Investment Report to the Fiscal Affairs Committee. A <br />few changes have been made to the Investment Policy based on GASa 40 and recommendations from the Auditors. <br />We are recommending that the Investment Policy be amended to outline maximum allowable percentages for <br />investments. <br /> <br />Action Required bv Council: <br /> <br />Recommend that the Council approve the amended Investment Policy. <br /> <br /> <br />){)jB~F <br />Date' { ( <br />