Item 4E audioResolution 09Resolution 09--059 Annual 059 Annual
Review of Investment Review of Investment
Policy and StrategiesPolicy and Strategies
September 15, 2009September 15, 2009
Purpose of ReviewPurpose of Review
Public Funds Investment Act Public Funds Investment Act
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Section 2256Section 2256
Requires the governing body to Requires the governing body to
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review its policy and strategies review its policy and strategies
annually (last review September annually (last review September
2008)2008)
Resolution No. 09Resolution No. 09--059059
Policy reviewed against the Policy reviewed against the
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Public Funds Investment Act Public Funds Investment Act
Identified no necessary changes to Identified no necessary changes to
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the investment policy.the investment policy.
Investment StrategyInvestment Strategy
Operating fundsOperating funds
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First objective is to assure that First objective is to assure that
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anticipated cash flows are matched anticipated cash flows are matched
with adequate investment liquidity.with adequate investment liquidity.
Second objective is to create a Second objective is to create a
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portfolio structure which will portfolio structure which will
experience minimal volatility during experience minimal volatility during
economic cycles.economic cycles.
Investment StrategyInvestment Strategy
Debt service fundsDebt service funds
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Primary objective: to ensure Primary objective: to ensure
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adequate investment liquidity to adequate investment liquidity to
cover the debt service obligation cover the debt service obligation
on the required payment date.on the required payment date.
Investment StrategyInvestment Strategy
Special projects, special Special projects, special
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purpose, or construction fundpurpose, or construction fund
Primary objective: to ensure Primary objective: to ensure
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anticipated cash flows are matched anticipated cash flows are matched
with adequate investment liquidity.with adequate investment liquidity.
Investment AuthorityInvestment Authority
Investment Officer(s) of the City are Investment Officer(s) of the City are
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responsible for investment decisions responsible for investment decisions
and activities.and activities.
Director of FinanceDirector of Finance
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Deputy DirectorDeputy Director--AdministrationAdministration
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City staff involved in the investment City staff involved in the investment
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process shall refrain from personal process shall refrain from personal
business activitybusiness activity
Investment ObjectivesInvestment Objectives
SafetySafety
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LiquidityLiquidity
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YieldYield
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Public TrustPublic Trust
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Questions?Questions?
Please contact Please contact
Sharen JacksonSharen Jackson
817.748.8042817.748.8042