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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: June 11.2007 <br />Requested By: Michael G. Dolbv. CPA ~ <br /> <br />Department: Finance <br /> <br />Appropriation <br /> <br />Source of Funds: <br /> <br />Account Number: <br /> <br />Report: <br /> <br />Resolution: X Ordinance: <br /> <br />Amount Budgeted: <br /> <br />Exhibits: Resolution <br /> <br />Amount Requested: <br /> <br />Exhibits: Investment Policy <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 last amended in October 2005. 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 May 21, 2007, the Finance Department presented the Investment Policy to the Fiscal Affairs Committee for <br />review. No changes to the actual policy are recommended at this time. <br /> <br />Action Required bv Council: <br /> <br />Recommend that the Council receive and approve/reaffirm the Investment Policy. <br /> <br /> <br />enda <br /> <br />~fc <br /> <br />Date <br />