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<br />e <br /> <br />e <br /> <br /> <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <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: X Resolution: <br /> <br />Ordinance: <br /> <br />Amount Budgeted: <br /> <br />Exhibits: Investment Policy <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, 1992, by Ordinance <br />No. 1802. The policy was amended in November 2000. The Governmental Accounting Standard's Board (GASB) <br />Pronouncement 31 requires that a City must present the Investment Policy to Council annually. <br /> <br />On March 4, 2002, the Finance Department presented the Investment Policy to the Audit Conunittee for review. No <br />changes to the actual policy are recommended at this time, but the Approved Broker/Dealer Exhibit has been <br />amended to include the addition ofa new approved broker. We have also removed several brokers due to inactivity. <br /> <br />Action Required bv Council: <br /> <br />Recommend that the Council receive and approve the report on the Investment Policy. <br /> <br />Approved for City Council A2enda <br /> <br />(}{~ T. "~ <br /> <br />Robert T. Herrera, City Manager <br /> <br />4-S-()1..,... <br />Date <br />