Item 4C audio1
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City staff have reviewed the investment policy against the Public Funds
Investment Act and have not identified any necessary changes to the
investment policy.
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First objective is to assure that anticipated cash flows are matched with
adequate investment liquidity.
Second objective is to create a portfolio structure which will experience
minimal volatility during economic cycles.
This may be accomplished by purchasing high quality, short to medium
term securities which will complement each other. A dollar weighted
average maturity of 365 days or less will be calculated using the stated
final maturity date of each security.
4
Securities purchased shall not have a stated maturity date which
exceeds the debt service payment date.
5
These portfolios should include at least 10% in highly liquid securities to allow
for flexibility and unanticipated project outlays. The stated final maturity dates
of securities held should not exceed the estimated project completion date.
6
The Finance Director and Deputy Director-Administration are designated as
Investment Officer(s) of the City and are responsible for investment decisions
and activities.
City staff involved in the investment process shall refrain from personal
business activity that could conflict with proper execution of the investment
program, which could impair the ability to make impartial investment decisions
7
The City of Southlake shall manage and invest its cash with four objectives,
listed in order of priority: Safety, Liquidity, Yield, and Public Trust. The safety
of the principal invested always remains the primary objective. All investments
shall be designed and managed in a manner responsive to the public trust and
consistent with State and Local law.
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