Item 5JResolution No. 06-028, Annual review of investment policy and investment strategies
June 6, 2006
Resolution No. 06-028
Section 2256.005 (e) of the Public Funds Investment Act directs the governing body of an investing entity to review its investment policy and investment strategies not less than annually;
The city last review its policy in March 2005;
Resolution No. 06-028
City staff and financial advisor have reviewed the investment policy against recent changes to the Act and have identified some minor language changes to the investment policy;
Legislative change
Administrative change
Resolution No. 06-028
Legislative change
The amended Act actually simplifies general requirements for investing in Bank Certificates of Deposits (CDs)
Administrative change
Effective March 2006 the previous Assistant Director of Finance title changed to Deputy Director of Finance Administration
QUESTIONS?