Item 5J (2)Integrity
Innovation
Accountability Resolution No. 06-028,
Commitment to Annual review of investment policy and
Excellence investment strategies
June 6, 2006
Resolution No. 06-028
►ntegrity Section 2256.005 (e) of the Publi
Innovation Funds Investment Act directs the
Accountability
Commitment to governing body of an investing
Excellence entity to review its investment
Teamwork
policy and investment strategies
not less than annually;
• The city last review its policy in
March 2005;
z
Resolution No. 06-028
►ntegrity City staff and financial advisor
Innovation have reviewed the investment
Accountability
Commitment to policy against recent changes to
Excellence16— the Act and have identified some
minor language changes to the
investment policy;
— Legislative change
—Administrative change
3
Resolution No. 06-028
Integrity _ • Legislative change I
Innovation
— The amended Act actually simplifies
Accountability
Commitment to general requirements for investing in
Excellence Bank Certificates of Deposits (CDs)
• Administrative change
— Effective March 2006 the previous
Assistant Director of Finance title
changed to Deputy Director of
Finance Administration
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Integrity
Innovation
Accountability
Commitment to QUESTIONS?
Excellence