Laserfiche WebLink
REQUEST FOR FISCAL AFFAIRS COMMITTEEAGENDA ITEM <br />Appropriation <br />Agenda Date Requested:October28, 2013 <br />Source of Funds:N/A <br />Requested By:Michael G. Dolby, CPA <br />Account Number:N/A <br />Department:Finance <br />Amount Budgeted:N/A <br />Report: Resolution:Ordinance: <br />Amount Requested:N/A <br />ExhibitsInvestment Policy <br />Budgeted Item:YESNO <br />Exhibits: <br />Exhibits <br />SUMMARY & RECOMMENDATION <br />The City Council of the City of La Porte originally adopted an Investment Policy on January 13, 1992, by Ordinance <br />No. 1802. The Investment Policy governs how the City will invest the City’s funds and outlines administrative and <br />legal guidelines for the Investment Officers to follow for the preservation of capital. The Public Funds Investment <br />Act requires that a City must present the Investment Policy to Council annually for review or amendment. <br />The policy has been updated to reflect changes that were made to the Public Funds Investment Act during the last <br />update. Additionally, staff is proposing to update the list of authorized investments, and exclude those investments <br />that are deemed inappropriate for the City’s portfolio. <br />Action Required by the Fiscal Affairs Committee: <br />Review changes to the City of La Porte Investment Policy. <br />Approved for Fiscal Affairs CommitteeAgenda <br />CorbyD.Alexander, City ManagerDate <br /> <br />