CITY OF BOULDER FINANCIAL INVESTMENT STAFF GUIDELINES
|
|
- Shona Higgins
- 5 years ago
- Views:
Transcription
1 CITY OF BOULDER FINANCIAL INVESTMENT STAFF GUIDELINES I. POLICY It is the policy of the City of Boulder to invest public funds in a manner which will provide preservation of capital, meet the daily liquidity needs of the City, diversify the City s investments, conform to all cited local and state statutes governing the investment of public funds, and generate market rates of return. Investments will be purchased in accordance with the City s investment policy and in accordance with Title 2, Chapter 10 of the Boulder Revised Code (1981). II. SCOPE These investment guidelines apply to the activities of the City with regard to investing the financial assets of all funds as specified in BRC These guidelines are adopted by the Finance Director as guidance to the Treasury Staff. III. STANDARDS OF CARE B. Delegation of Authority Authority to manage the portfolio for the City of Boulder investment program is derived from BRC Management responsibility for the investment program is delegated by the City Manager to the Finance Director. A list of employees of the City of Boulder who are authorized to purchase, sell, wire securities or funds, or transfer custodianship on behalf of the City shall be maintained by the Finance Director. The Finance Director shall have the discretion to appoint (or to not appoint) one or more investment advisers, registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940, to assist in the management of all or a portion of the City s investment portfolio. All investments made through such investment advisers shall be within the guidelines of the City s investment policies. C. Investment Committee The Finance Director will appoint an Investment Committee, chaired by the Finance Director and including at least two (2) additional employees of the City knowledgeable in the area of governmental investments. The purpose of the Investment Committee shall be to provide advice regarding the operation of the cash management and investment program. The Committee shall meet at least once per quarter. Version
2 IV. AUTHORIZED AND SUITABLE INVESTMENTS INCLUDING COLLATERALIZATION AND DIVERSIFICATION B. Diversification 2. It is the policy of the City to diversify its investment portfolio. Investments shall be diversified to eliminate the risk of loss resulting from over concentration of assets in a specific maturity, a specific issuer or a specific class of securities. Diversification strategies shall be reviewed periodically by the Investment Committee. 3. Table 1 summarizes which securities may be purchased by the Finance Director, limits on security issues, limits on issuers, and maximum maturities for the various types of securities. Investments may be further restricted in selected instruments, to conform to then-present market conditions. 3. Tests for limitations on percentages of holdings apply to the composite of the entire portfolio of the City, not to individual portfolios maintained by the City. Percentage limitations used for measurements are based on the percentage of cost value of the portfolio. 4. If a security is purchased that requires a certain rating at the time of purchase, the security does not have to be sold if the rating subsequently drops below the required rating level. The Investment Committee should be made aware of the change in rating. Version
3 SUMMARY OF AUTHORIZED SECURITIES WHICH MAY BE PURCHASED BY THE CITY OF BOULDER PORTFOLIO ISSUER MATURITY INSTRUMENT MIN/MAX MAXIMUM MAXIMUM U.S. Treasury Obligations 10% min 100% max 100% Ten (10) years unless the maturity is matched to a specific cash flow need. U.S. Government Agencies 20% max 20% Ten (10) years unless the maturity is matched to a specific cash flow need. U.S. Government Instrumentalities 75% max 35% Ten (10) years unless the maturity is matched to a specific cash flow need. CD s (non-negotiable) 10% max 5% Five (5) years Commercial Paper 50% max 5% 270 days Banker s Acceptances 50% max 5% 180 days Repurchase Agreements Collateralized Mortgage Obligations (CMOs) 100% with direct obligations 50% any other type of collateral 50% 50% 180 days (Collateral of Treasuries and Fed Instrumentalities with maturities of less than Ten (10) years) 10% max 5% Rated in 1 of its 2 highest rating categories by 2 or more rating agencies - Tranche A maturities of less than Ten (10) years Corporate Bonds 10% max 5% Three (3) years LGIPs 50% max 30% Comply with 270-2A-7 regs Money Market Mutual Funds 20% max 10% Comply with 270-2A-7 regs Table 1 Version
4 V. INTERNAL CONTROLS The Finance Director shall establish appropriate internal controls that shall safeguard the funds of the City. Examples of the internal controls may include, but not be limited to, the following items: A. Delivery versus Payment B. Other VI. GLOSSARY All securities purchased or sold will be transferred when possible only under delivery versus payment (D.V.P.) method to ensure that funds or securities are not released until all criteria relating to the specific transaction are met. Securities may be transferred free of payment only after obtaining pre-approval in writing from the Finance Director or the appointed designee. Internal controls and documented procedures shall encompass at a minimum the additional issues of: separation of functions including transaction authority from accounting and record-keeping, to the extent deemed appropriate given available staff. delegation of authority to staff members or authorized investment advisors. written confirmation of telephone or fax transactions. supervisory oversight of employee actions and operations review. guidelines regarding review of holdings. guidelines for purchasing and selling securities with broker/dealers. minimum credit criteria for banks. Agencies: Federal agency securities. Bankers Acceptance (BA): A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the issuer. Broker: A broker brings buyers and sellers together for a commission paid by the initiator of the transaction or by both sides; the broker does not position. In the money market, brokers are active in markets in which banks buy and sell money and in inter-dealer markets. Callable Bond: A bond redeemable by the issuer before the scheduled maturity. Certificate of Deposit: A time deposit with a specific maturity evidenced by a certificate. Large denomination CDs are typically negotiable. Version
5 Collateral: Securities or property pledged by a borrower to secure payment. Collateralized Mortgage Obligation: Mortgage-backed bond that separates mortgage pools into short, medium and long term portions. The different time frames are split into time frames called tranches. Commercial Paper: An unsecured promissory note with a fixed maturity of no more than 270 days. Commercial paper is normally sold at a discount from face value. Dealer: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his/her own account. Delivery Versus Payment: There are two methods of delivery of securities: delivery versus payment and delivery versus receipt (also called free). Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities. Debenture: A bond secured only by the general credit of the issuer. Derivative Security: A financial instrument whose value is based on, and determined by, another security or benchmark (i.e. stock options, futures, interest rate swaps, floating rate notes, caps/floors). Diversification: Dividing investment funds among a variety of securities offering independent returns. Federal Deposit Insurance Corporation (FDIC): A federal institution that insures bank and savings and loan deposits, currently up to $100,000. Fed Wire: A computer system linking member banks and other financial institutions to the Fed, used for making inter-bank payments of Fed funds and for making deliveries of and payments for Treasury, agency and book-entry mortgage backed securities. Investment Adviser s Act: Legislation passed by Congress in 1940 that requires all investment advisers to register with the Securities and Exchange Commission. The Act is designed to protect the public from fraud or misrepresentation by investment advisers. Liquidity: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. Local Government Investment Pool: The aggregate of all funds from political subdivisions that are placed in custody of pools authorized under the laws of the State. Market Value: The price at which a security is trading and could presumably be purchased or sold. Version
6 Master Repurchase Agreement: A written contract covering all future transactions between the parties to repurchase reverse repurchase agreements that establish each party s rights in the transactions. A Master agreement will often specify, among other things, the right of the buyer-lender to liquidate the underlying securities in the event of default by the seller-borrower. Maturity: The date upon which the principal or stated value of an investment becomes due and payable. Money Market Mutual Fund: A mutual fund that limits its investments to some or all types of money market instruments. Mutual Funds: A fund operated by an investment company that raises money from shareholders and invests it in stocks, bonds, options, commodities or money market securities. Portfolio: Collection of securities held by an investor. Prudent Investor Rule: Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived. Rate of Return: The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity on a bond or the current income return. Ratings: An evaluation of an issuer of securities by Moody s, Standard & Poor s, Fitch, or other rating services of a security s credit worthiness. Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security buyer in effect lends the seller money for the period of the agreement, and the terms of the agreement are structured to compensate him/her. Dealers use repurchase agreements extensively to finance their positions. Reverse Repurchase Agreements: The mirror image of a repurchase agreement. In exchange for securities, a dealer transfers cash to the institutional investor. Often used as a source of liquidity when cash flow needs are mismatched with maturities. Safekeeping: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank s vault for protection. Treasury Bills: A non-interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months or one year. Treasury Bonds: Long-term U.S. Treasury securities having initial maturities of more than ten years. Version
7 Treasury Notes: Intermediate term coupon bearing U.S. Treasury securities having initial maturities of from one to ten years. Weighted Average Life (WAL): A measure that summarizes the maturity characteristics of a pass through security using prepayment assumptions. Yield: The rate of annual income return on an investment, expressed as a percentage. Zero Coupon Bonds: Bonds where the owner separates the interest-bearing coupons and sells the remaining principal certificate, usually at a price substantially below its face value. VII. EXCEPTIONS Any exceptions to these investment guidelines must be approved by the Director of Finance in writing. VIII. ACCEPTANCE AND APPROVAL These investment guidelines are hereby approved, effective as of the date noted below until amended, superseded or rescinded by the Director of Finance. Robert W. Eichem Director of Finance City of Boulder Effective Date Version
8 CITY OF BOULDER FINANCIAL INVESTMENT GUIDELINES ADDENDUM 1 The following broker/dealers are hereby approved for conducting City business: Morgan Stanley/Smith Barney Angela Pizzichini, Matt Gurba, Deidre Cortney Mizuho Securities USA Sheila Doyle Cantor Fitzgerald Robyn Grade Wells Fargo Dave Johnson, William Knorr UBS Paul Arevian The following personnel are authorized to execute trades for the City of Boulder according to these guidelines: Kim Carpentier Duane Hudson Robert Eichem This addendum is hereby approved, effective as of the date noted below until amended, superseded or rescinded by the Director of Finance. Robert W. Eichem Director of Finance City of Boulder Effective Date 11/8/2010 9:27 AM -1 -
CITY OF SOUTHFIELD, MICHIGAN
I N V E S T M E N T P O L I C Y CITY OF SOUTHFIELD, MICHIGAN TABLE OF CONTENTS I. Policy... 3 II. Scope... 3 III. Pooling of Cash and Investments... 3 IV. Investment Objectives... 3 Safety... 4 Liquidity...
More informationPolk County Wisconsin. Policy 913 Effective Date: Revision Date: , ,
Polk County Wisconsin INVESTMENT POLICY Policy 913 Effective Date: 06-19-2000 Revision Date: 5-20-2003, 7-18-2006, 01-16-07 POLK COUNTY INVESTMENT POLICY 1.0 Policy: The County Board Chairperson, Polk
More informationContra Costa County Schools Insurance Group Investment Policy As of June 14, 2018
Contra Costa County Schools Insurance Group Investment Policy As of June 14, 2018 I. Introduction The purpose of this document is to identify various policies and procedures that enhance opportunities
More informationSAN FRANCISCO COUNTY TRANSPORTATION AUTHORITY INVESTMENT POLICY
I. INTRODUCTION II. III. IV. The purpose of this document is to set out policies and procedures that enhance opportunities for a prudent and systematic investment policy and to organize and formalize investment-related
More informationB) Investment Objectives The primary objectives of this investment policy are legality, safety, liquidity and yield in that order.
POLICY NO. DATE OFFICE OF PRIMARY RESPONSIBILITY (OPR) FIN-23 03/18 Finance 1) POLICY INTRODUCTION AND SCOPE It is the policy of the Las Vegas Convention and Visitors Authority (LVCVA) to invest funds
More informationPolicies and Procedures
Policies and Procedures Policy No.: 3010-004 Adoption Method: Resolution No. 18-12 Effective Date: July 1, 2018 Last Revised: July 1, 2017 Prepared By: Delia Lugo, Finance Manager Applicability: District
More informationMARIN MUNICIPAL WATER DISTRICT
SUBJECT: MARIN MUNICIPAL WATER DISTRICT INVESTMENT POLICY BOARD POLICY No. 33 DATE: Reviewed 1-7-09 Reviewed 1-6-10 Revised 1-5-11 Revised 1-5-12 Revised 1-23-13 Revised 2-7-17 Reviewed 1-25-18 I. Introduction
More informationUNIVERSITY OF CENTRAL FLORIDA INVESTMENT POLICY AND MANUAL
UNIVERSITY OF CENTRAL FLORIDA INVESTMENT POLICY AND MANUAL TABLE OF CONTENTS INVESTMENT POLICY... 1 INVESTMENT OBJECTIVES... 2 PERFORMANCE MEASUREMENT... 3 PRUDENCE AND ETHICAL STANDARDS... 3 BROKER DEALERS,
More informationCity of Redmond Investment Policy
1.0 Policy: It is the policy of the City of Redmond to invest public funds in a manner which will provide the maximum security of the principle, meet the daily cash flow demands of the City, and strive
More informationINVESTMENT POLICY SECTION 1 PURPOSE
INVESTMENT POLICY SECTION 1 PURPOSE The purpose of this Investment Policy Statement is to establish a clear understanding of the philosophy and the investment objectives for Financial Assets (the Assets)
More informationAdministration and Projects Committee STAFF REPORT June 4, 2015 Page 2 of 2 Upon review of permitted investments available to the Authority, State law
Administration and Projects Committee STAFF REPORT Meeting Date: June 4, 2015 Subject Approval of the Authority s Investment Policy for FY 2015-16 Summary of Issues Recommendations Financial Implications
More informationInvestment Policy Fiscal Year
Investment Policy Fiscal Year 2016-17 I. Introduction The investment policies and practices of the Contra Costa Transportation Authority (the Authority) are based on the principles of prudent money management
More informationCITY OF ELK GROVE INVESTMENT POLICY Fiscal Year
CITY OF ELK GROVE INVESTMENT POLICY Fiscal Year 2017-2018 CITY OF ELK GROVE INVESTMENT POLICY I. PURPOSE This statement is intended to provide guidelines for the prudent investment of the City's surplus
More informationJEA TREASURY SERVICES INVESTMENT POLICY AS OF MAY 16, 2017
JEA TREASURY SERVICES INVESTMENT POLICY AS OF MAY 16, 2017 1.0 SCOPE The statement of investment policy and guidelines applies to funds under control of JEA in excess of those required to meet short-term
More informationInvestment Policy. City of North Bend Investment Policy Adopted by Resolution 1499 on February 1, 2011
Investment Policy City of North Bend Investment Policy Adopted by Resolution 1499 on February 1, 2011 1.0 PURPOSE It is the policy of the City of North Bend to invest its funds in a manner which will provide
More informationCity of Pismo Beach Investment Policy FY
FY 2013-14 1.0 Policy The City of Pismo Beach ( City ) shall invest public funds in such a manner as to comply with state and local laws; ensure prudent money management; provide for daily cash flow requirements;
More informationPolicy Subject: Number Page. LAND SECURED INVESTMENT POLICY B-19 1 of 10
LAND SECURED INVESTMENT POLICY B-19 1 of 10 PURPOSE & OBJECTIVE This investment policy statement applies to funds held in trust with a fiscal agent, primarily proceeds of bonds issued by the County of
More informationWASHINGTON STATE COMMUNITY COLLEGE DISTRICT 17/COMMUNITY COLLEGES OF SPOKANE. Investment Procedures
WASHINGTON STATE COMMUNITY COLLEGE DISTRICT 17/COMMUNITY COLLEGES OF SPOKANE Investment Procedures January 2004 TABLE OF CONTENTS Delegation Of Authority..3 Scope of Investment Procedure.......3 Objectives....3
More informationChapter 2-10 Investment of City Funds Boulder Revised Code, 1981
Page 1 of 9 Chapter 2-10 Investment of City Funds Boulder Revised Code, 1981 Print this page in landscape for best results 2-10-1 Legislative Intent. Adopted by Ordinance No. 5585. This chapter establishes
More informationCITY OF CHINO STATEMENT OF INVESTMENT POLICY ADOPTED APRIL 2, 2019
CITY OF CHINO STATEMENT OF INVESTMENT POLICY ADOPTED APRIL 2, 2019 1.0 POLICY: This statement is intended to provide guidelines for the prudent investment of the temporarily idle cash of the City of Chino
More informationExhibit A to Res December 18, 2017 ` CITY OF HASLET INVESTMENT POLICY I. INTRODUCTION
Exhibit A to Res. 024-2017 December 18, 2017 ` CITY OF HASLET INVESTMENT POLICY I. INTRODUCTION The purpose of this document is to set forth specific investment policy and strategy guidelines for the City
More informationPOL-BFA Business and Financial Affairs Short-Term Investment Policy for Western Washington University
POL-BFA5310.01 Business and Financial Affairs Short-Term Investment Policy for Western Washington University Approved by: Richard Van Den Hul, Vice President Business and Financial Affairs October 24,
More informationSTATEMENT OF INVESTMENT POLICY
STATEMENT OF INVESTMENT POLICY Fiscal Year 2017-2018 I. POLICY... 2 II. SCOPE... 2 III. PRUDENCE... 2 IV. OBJECTIVE... 3 V. MAXIMUM MATURITIES... 4 VI. PERFORMANCE STANDARDS... 4 VII. DELEGATION & GRANTS
More informationNORTHEAST OHIO REGIONAL SEWER DISTRICT INVESTMENT POLICY. December (Revision of September 2000 Investment Policy)
NORTHEAST OHIO REGIONAL SEWER DISTRICT INVESTMENT POLICY December 2009 (Revision of September 2000 Investment Policy) TABLE OF CONTENTS PREFACE... i I. INVESTMENT RESPONSIBILITIES A. Legal and District
More informationUNIVERSITY OF HOUSTON SYSTEM INVESTMENT POLICY FOR NON-ENDOWED FUNDS Approved by the Board of Regents February 19, 1998
UNIVERSITY OF HOUSTON SYSTEM INVESTMENT POLICY FOR NON-ENDOWED FUNDS Approved by the Board of Regents February 19, 1998 I. INVESTMENT AUTHORITY AND SCOPE OF POLICY...1 General Statement System's Investment
More informationSUBJECT: Board Approval: 6/14/07
1255 Imperial Avenue, Suite 1000 San Diego, CA 92101-7490 619/231-1466 FAX 619/234-3407 Policies and Procedures No. 30 SUBJECT: Board Approval: 6/14/07 INVESTMENTS PURPOSE: To identify various policies
More informationTown of Sykesville, Maryland Investment Policy and Procedures
Town of Sykesville, Maryland Investment Policy and Procedures I. Purpose and Scope The purpose of this statement of investment policy is to establish guidelines for the safeguarding and efficient management
More informationSELF-INSURED SCHOOLS OF CALIFORNIA (SISC) Investment Policy
SELF-INSURED SCHOOLS OF CALIFORNIA (SISC) Investment Policy 1300 17 TH Street City Centre P.O. Box 1808 Bakersfield, CA 93303-1808 October 2005 1.0 POLICY STATEMENT It is the policy of Self-Insured Schools
More informationCounty of Ottawa INVESTMENT POLICY
INVESTMENT POLICY I. POLICY It is the policy of the County of Ottawa to manage public funds in a manner which will provide the highest investment return with maximum security, while meeting the daily cash
More informationOHIO TURNPIKE COMMISSION INVESTMENT POLICY July 2008 OHIO TURNPIKE COMMISSION INVESTMENT POLICY TABLE OF CONTENTS Page I. INTRODUCTION Purpose...1 Scope...1 Investment Authority...1 Prudence...1 Ethics
More informationCalifornia Municipal Treasurers Investment Policy Certification Program and Application Third Edition
California Municipal Treasurers Investment Policy Certification Program and Application 2017 - Third Edition California Municipal Treasurers Investment Policy Certification Program and Application Process
More informationWHEREAS, the City desires to modify the current policy to incorporate changes suggested by GFOA and to make minor wording changes to clarify meaning.
RESOLUTION NO. 6053 A RESOLUTION ADOPTING AN UPDATED INVESTMENT POLICY AND REPEALING RESOLUTION NO. 5947 WHEREAS, ORS Section 294.135 requires cities to periodically review their written investment policies;
More informationRevenue and Investments 4.30
OPERATIONAL SERVICES Revenue The Superintendent or designee is responsible for making all claims for property tax revenue, State Aid, special State funds for specific programs, federal funds, and categorical
More informationCity of Medford Investment Policy
City of Medford Investment Policy Section 1. Purpose: The City of Medford, Oregon (the City) was incorporated in 1885 and operates under the council-manager form of government. Policy-making and legislative
More informationINVESTMENT GUIDELINES FOR THE ERIE COUNTY WATER AUTHORITY PURSUANT TO ARTICLE 9, SECTION 2925 OF THE PUBLIC AUTHORITIES LAW
INVESTMENT GUIDELINES FOR THE ERIE COUNTY WATER AUTHORITY PURSUANT TO ARTICLE 9, SECTION 2925 OF THE PUBLIC AUTHORITIES LAW I. SCOPE These investment guidelines apply to all moneys and other financial
More informationSEMINOLE COUNTY INVESTMENT POLICY TABLE OF CONTENTS
SEMINOLE COUNTY INVESTMENT POLICY TABLE OF CONTENTS I. SCOPE... II. INVESTMENT OBJECTIVES... III. INVESTMENT PERFORMANCE AND REPORTING... IV. PRUDENCE AND ETHICAL STANDARDS... V. AUTHORIZED INVESTMENTS...
More informationCITY OF FATE, TEXAS. Investment Policy. Effective December 3, 2018
CITY OF FATE, TEXAS Investment Policy Effective December 3, 2018 City of Fate, Texas Investment Policy Table of Contents I. Policy... 1 II. Purpose... 1 III. Scope... 1 IV. Investment Objectives... 2 Safety...
More informationINVESTMENT POLICY. February, In compliance with the Public Funds Investment Act Texas Government Code 2256
INVESTMENT POLICY February, 2018 In compliance with the Public Funds Investment Act Texas Government Code 2256 TABLE OF CONTENTS INVESTMENT AUTHORITY AND SCOPE OF POLICY 1 General Statement 1 Funds Included
More informationBUSINESS POLICY AND PROCEDURE MANUAL
1 of 8 GENERAL STATEMENT OF This policy applies to the investment of all operating funds of Southeast Missouri State University as well as longer-term funds and proceeds from certain bond issues. Except
More informationTrinity River Authority of Texas
Trinity River Authority of Texas Policy Section: Finance Date Issued: August 26, 1987 Revised Date: October 25, 2017 Originator: Chief Financial Officer Approval Level: Board of Directors I. PURPOSE A.
More informationTexPool Prime Investment Policy
TexPool Prime Investment Policy Texas Local Government Investment Pool Revised August 2018 G35884-53 I. PURPOSE AND OBJECTIVES STATEMENT A. TEXPOOL PRIME The Interlocal Cooperation Act, chapter 791 of
More informationDavid Lenoir Shelby County Trustee
David Lenoir Shelby County Trustee Investment Policy I. Purpose: The purpose of this policy is to provide prudent and systematic guidance for investment activities within the Trustee s office. II. Scope:
More informationLos Angeles County Metropolitan Transportation Authority INVESTMENT POLICY
Los Angeles County Metropolitan Transportation Authority INVESTMENT POLICY Approved on January 26, 2017 INVESTMENT POLICY TABLE OF CONTENTS Section # Section Description Page # 1.0 Policy 3 2.0 Scope 3
More informationSTAFF REPORT. existing policy and includes no changes or modifications THRU 1 SUBJECT. AGENDA ITEM NO 2 o MEETING DATE
REVIEWED VERIFIED BY Management Analyst Finance Director Prepared By Erin Backs STAFF REPORT Presented By Paul Espinoza DATE June 10 2009 TO THRU Honorable Mayor Chair and Cit ouncil Donald D Lamm City
More informationCOUNTY OF SONOMA STATEMENT OF INVESTMENT POLICY. Effective
COUNTY OF SONOMA STATEMENT OF INVESTMENT POLICY Effective 01-09-18 TABLE OF CONTENTS Page 1. Policy Statement 2 2. Standards of Care... 2 3. Investment Objectives 2 (a) Safety of Capital.. 2 (b) Liquidity..
More informationTAZEWELL COUNTY INVESTMENT POLICY. Mary J. Burress Tazewell County Treasurer
TAZEWELL COUNTY INVESTMENT POLICY Mary J. Burress Tazewell County Treasurer Revised 11/20/2017 1 Revised 11/20/2017 TABLE OF CONTENTS 1.0 SCOPE OF POLICY...3 2.0 OBJECTIVES... 3 3.0 FUNDS EXCLUDED FROM
More informationTexPool Investment Policy
TexPool Investment Policy Texas Local Government Investment Pool Revised August 2018 G35884-52 I. PURPOSE AND OBJECTIVES STATEMENT A. TEXPOOL The Interlocal Cooperation Act, chapter 791 of the Texas Government
More informationReviewed/Adopted February 27, 2017 INVESTMENT POLICY. Purpose, Scope, Objectives and Strategy
Reviewed/Adopted February 27, 2017 Purpose, Scope, Objectives and Strategy INVESTMENT POLICY 1.0 Purpose of Policy. It is the policy of Kilgore College that the Administration of its funds and the investment
More informationTAZEWELL COUNTY INVESTMENT POLICY. Mary J. Burress Tazewell County Treasurer
TAZEWELL COUNTY INVESTMENT POLICY Mary J. Burress Tazewell County Treasurer Revised / /2012 1 Revised / /2012 TABLE OF CONTENTS 1.0 SCOPE OF POLICY...3 2.0 OBJECTIVES... 3 3.0 FUNDS EXCLUDED FROM THIS
More informationCity Investment Policy
City Investment Policy Council Policy October 17, 2017 Last Rev: Adopted: 12/5/1995 A. Purpose The purpose of the City's Investment Policy is to provide guidelines and limitations for the responsible management
More informationREVENUES FROM INVESTMENTS/USE OF SURPLUS FUNDS
REVENUES FROM INVESTMENTS/USE OF SURPLUS FUNDS The Board authorizes and appoints the superintendent [or business officer or treasurer] to serve as investment officer of the school district ("district")
More informationStatement of Investment Policy
Statement of Investment Policy Effective January 1, 2018 TABLE OF CONTENTS 1.0 Policy 2.0 Scope 3.0 Delegation of Authority 4.0 Prudence and Standard of Care 5.0 Investment Objectives 6.0 Investment Procedures
More informationAdministration and Projects Committee STAFF REPORT June 4, 2015 Page 2 of 2 Upon review of permitted investments available to the Authority, State law
Administration and Projects Committee STAFF REPORT Meeting Date: June 4, 2015 Subject Approval of the Authority s Investment Policy for FY 2015-16 Summary of Issues Recommendations Each year the Authority
More informationREVENUES FROM INVESTMENTS/USE OF SURPLUS FUNDS (District Utilizes a Third Party to Manage Some or All of Its Investments)
REVENUES FROM INVESTMENTS/USE OF SURPLUS FUNDS (District Utilizes a Third Party to Manage Some or All of Its Investments) The Board authorizes and appoints the superintendent or treasurer to serve as the
More informationRESOLUTION NO A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WESTLAKE VILLAGE ESTABLISHING ANNUAL FINANCIAL AUTHORIZATIONS AND POLICIES
RESOLUTION NO. 1930-17 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WESTLAKE VILLAGE ESTABLISHING ANNUAL FINANCIAL AUTHORIZATIONS AND POLICIES THE CITY COUNCIL OF THE CITY OF WESTLAKE VILLAGE FINDS,
More informationALBANY COUNTY AIRPORT AUTHORITY ANNUAL INVESTMENT REPORT FOR THE FISCAL YEAR ENDING DECEMBER 31, 2018
ALBANY COUNTY AIRPORT AUTHORITY ANNUAL INVESTMENT REPORT FOR THE FISCAL YEAR ENDING DECEMBER 31, 2018 PREPARED IN ACCORDANCE WITH SECTION 2925 OF THE PUBLIC AUTHORITIES LAW Introduction In accordance with
More informationCITY OF VICTORIA, TEXAS INVESTMENT POLICY I. INTRODUCTION
CITY OF VICTORIA, TEXAS INVESTMENT POLICY I. INTRODUCTION The following document represents the investment scope, prudence, objective/strategy, delegation of authority, ethics and conflicts of interest,
More informationDFA-R INVESTMENT OF SCHOOL DISTRICT FUNDS
DFA-R INVESTMENT OF SCHOOL DISTRICT FUNDS GFOA The purpose of this investment policy is to aid the general membership of Government Finance Officers Association (GFOA) in the preparation of an investment
More informationFinance Department. DATE: March 9, 2010 TO: City Council FROM: Dave Warren Director of Finance RECOMMENDATION:
M E M O R A N D U M Finance Department DATE: TO: FROM: SUBJECT: City Council Dave Warren Director of Finance INVESTMENT POLICY RECOMMENDATION: Adopt a Resolution approving the City s investment policy
More informationDENVER URBAN RENEWAL AUTHORITY INVESTMENT POLICY
DENVER URBAN RENEWAL AUTHORITY INVESTMENT POLICY Effective Date: March 20, 2014 Table of Contents Section Page 1. Purpose... 1 2. Scope... 1 3. Objectives... 1 4. Standards of Care... 2 5. Eligible Investments...
More informationOperational Services
Woodland Community Consolidated School District 50 4:30 Revenue and Investments Operational Services Summary: The District shall invest money that is not required for current operations. The Board of Education
More informationFINANCIAL POLICIES- INVESTMENT POLICY
CITY OF ARDEN HILLS COUNTY OF RAMSEY STATE OF MINNESOTA FINANCIAL POLICIES- INVESTMENT POLICY 1. Purpose It is the policy of the City to invest public funds in a manner which maximizes security and provides
More informationBECKER COUNTY INVESTMENT POLICY Revised February 12, 2008
SECTION 1 INTRODUCTION The purpose of this policy is to set forth the investment objectives and parameters for the management of the public funds of Becker County. This policy is designed to: safeguard
More informationVILLAGE OF BALD HEAD ISLAND INVESTMENT POLICY
VILLAGE OF BALD HEAD ISLAND INVESTMENT POLICY I. SCOPE This policy applies to the investment of short-term operating funds. Except for cash in certain restricted and special funds, the Village of Bald
More informationThis policy applies to the investment of operating funds of the United Way of Kentucky.
Investment Policy I. Scope & Purpose This policy applies to the investment of operating funds of the United Way of Kentucky. 1. Pooling of Funds Except for cash in certain restricted and special funds,
More informationCity of Yuba City. Investment Policy
City of Yuba City Investment Policy January 1, 2017 TABLE OF CONTENTS Page I. PURPOSE... 1 II. SCOPE 1 III. OBJECTIVES... 1 IV. STANDARD OF CARE.... 1 Prudence V. INVESTMENT AUTHORITY AND RESPONSIBILITIES..
More informationILLINOIS METROPOLITAN INVESTMENT FUND INVESTMENT POLICY IMET CONVENIENCE SERIES MAY 16, 2014
ILLINOIS METROPOLITAN INVESTMENT FUND INVESTMENT POLICY IMET CONVENIENCE SERIES MAY 16, 2014 The Illinois Metropolitan Investment Fund ( IMET or Fund ) is an actively managed investment fund for Illinois
More informationInvestment Policy. Fiscal Year
Investment Policy Fiscal Year 2018-19 City of Healdsburg Investment Policy 1 Fiscal Year 2018-19 TABLE OF CONTENTS I. MISSION STATEMENT...3 II. III. IV. SCOPE A. Pooling of Funds...3 B. Funds Included
More informationCITY OF STAMFORD, CONNECTICUT INVESTMENT POLICY
Adopted by the Board of Finance: September 2008 Draft Revisions by the Investment Advisory Committee 10-10-2014 CITY OF STAMFORD, CONNECTICUT INVESTMENT POLICY 1.0 Policy Statement It is the policy of
More informationSHORT-TERM INVESTMENT POOL (STIP) INVESTMENT POLICY. Approved February 14, 2017
SHORT-TERM INVESTMENT POOL (STIP) INVESTMENT POLICY Approved February 14, 2017 Table of Contents Page 1. Introduction... 3 2. Purpose... 3 3. Legal and Constitutional Authority... 3 4. Financial Reporting...
More informationMONROE COUNTY WATER AUTHORITY ANNUAL STATEMENT OF INVESTMENT POLICY (READOPTED APRIL 2018) ARTICLE 1 INTRODUCTION
MONROE COUNTY WATER AUTHORITY ANNUAL STATEMENT OF INVESTMENT POLICY (READOPTED APRIL 2018) ARTICLE 1 INTRODUCTION Section 2925 of the New York Public Authorities Law requires the Authority to adopt investment
More informationSEMINOLE COUNTY CLERK OF THE CIRCUIT COURT AND COMPTROLLER INVESTMENT POLICY TABLE OF CONTENTS INVESTMENT OBJECTIVES...2
SEMINOLE COUNTY CLERK OF THE CIRCUIT COURT AND COMPTROLLER INVESTMENT POLICY TABLE OF CONTENTS I. SCOPE....2 II. III. IV. INVESTMENT OBJECTIVES...2 INVESTMENT PERFORMANCE AND REPORTING... 3 PRUDENCE AND
More informationPOOLED MONEY INVESTMENT PORTFOLIO
INVESTMENT POLICY POOLED MONEY INVESTMENT PORTFOLIO State of Kansas Pooled Money Investment Board Most Recent Annual Approval: February 22, 2017 I. POLICY STATEMENT It is the policy of the State of Kansas,
More informationCredit risk is the risk of loss due to the failure of the security issuer or backer. Credit risk will be limited by:
Fiscal Management ABERDEEN SCHOOL DISTRICT POLICIES AND REGULATIONS NEPN Code: DFA REVISION/FIRST READING Investing Investment of school district funds will be made in a manner which will provide a marketaverage
More informationWHEREAS, changes previously suggested by GFOA and OSTFB have been incorporated into the City' s Investment Policy; and
RESOLUTION NO. 6553 A RESOLUTION READOPTING AN INVESTMENT POLICY AND REPEALING RESOLUTION 6459 WHEREAS, ORS Section 294. 135 requires cities to periodically review their written investment policies; and
More informationCity of Ames Investment Policy. Caring People Quality Programs Exceptional Service
City of Ames Investment Policy Caring People Quality Programs Exceptional Service Revised April 2007 TABLE OF CONTENTS Page Purpose...1 Policy...1 Scope...1 Objectives...2 Standards of Care...3 Investment
More informationOperational Services
Page 1 of 7 Revenue and Investments Revenue Operational Services The Superintendent or designee is responsible for making all claims for property tax revenue, State Aid, special State funds for specific
More informationMONTEREY COUNTY TREASURER S INVESTMENT POLICY FISCAL YEAR
MONTEREY COUNTY TREASURER S INVESTMENT POLICY FISCAL YEAR 2017-2018 APPROVED BY THE BOARD OF SUPERVISORS JULY 25, 2017 MONTEREY COUNTY INVESTMENT POLICY TABLE OF CONTENTS 2017-2018 1.0 Policy... 1 2.0
More informationInvestment Policy City of Palm Coast, Florida
Investment Policy City of Palm Coast, Florida Approved on May 5, 2015 Table of Contents Page I. PURPOSE 3 II. SCOPE 3 III. INVESTMENT OBJECTIVES 3 IV. DELEGATION OF AUTHORITY 4 V. STANDARDS OF PRUDENCE
More informationOKALOOSA COUNTY, FLORIDA CLERK OF CIRCUIT COURT (EX OFFICIO CLERK TO THE BOARD) REVENUE AND INVESTMENTS OFFICE FINANCE DIVISION
POLICY NO. 3801 INVESTMENT AND PORTFOLIO POLICY OKALOOSA COUNTY, FLORIDA CLERK OF CIRCUIT COURT (EX OFFICIO CLERK TO THE BOARD) REVENUE AND INVESTMENTS OFFICE FINANCE DIVISION INVESTMENT AND PORTFOLIO
More informationCity of Richmond Administrative Manual
I. Purpose A. To recognize the City of Richmond s Pension Fund Investment Program as containing those appropriate and approved procedures necessary for the approval, and monitoring of the City s Pension
More informationCOUNTY OF OAKLAND, MICHIGAN
INVESTMENT POLICY FOR COUNTY OF OAKLAND, MICHIGAN April, 2001 1.0 PURPOSE In conformance with Michigan Public Act 20 of 1943, as amended, it is the policy of Oakland County to invest public funds in a
More informationPage 1 of 1 INVESTMENT POLICY CLEVELAND MUNICIPAL SCHOOL DISTRICT. The investment objectives of the District, in priority order, include:
Page 1 of 1 INVESTMENT POLICY CLEVELAND MUNICIPAL SCHOOL DISTRICT I. Introduction The purpose of this investment policy is to establish priorities and guidelines regarding the investment management of
More informationStaff Report. (925) Considering approval of the City of Concord Investment Policy
7.a Staff Report Date: June 12, 2018 To: From: Reviewed by: Prepared by: Subject: City Council Valerie J. Barone, City Manager Karan Reid, Director of Finance Deborah Yamamoto Deborah.yamamoto@cityofconcord.org
More informationMideastern Michigan Library Cooperative (MMLC) Investment Policy
Mideastern Michigan Library Cooperative (MMLC) Investment Policy Adopted October 8, 1998 Reconfirmed January 10, 2013 Investment Policy 1.0 Purpose Mideastern Michigan Library Cooperative (MMLC) It is
More informationTHE METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA. STATEMENT OF INVESTMENT POLICY June 10, 2014
6/10/2014 Board Meeting Page 1 of 11 THE METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA STATEMENT OF INVESTMENT POLICY June 10, 2014 I. INVESTMENT AUTHORITY In accordance with Section 53600 et seq.
More information2
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70
More informationAlaska Housing Finance Corporation Fiscal Policies. November 29, 2017
Alaska Housing Finance Corporation Fiscal Policies Contents Section 1. General Matters 1.01 Authority.... 1 1.02 Revision and Amendment.... 1 1.03 Waivers.... 1 1.04 Implementation.... 1 1.05 Standards
More informationSOUTH FLORIDA STATE COLLEGE ADMINISTRATIVE PROCEDURES OFFICE OF PRIMARY RESPONSIBILITY: VICE PRESIDENT FOR ADMINISTRATIVE SERVICES/CONTROLLER
SOUTH FLORIDA STATE COLLEGE ADMINISTRATIVE PROCEDURES PROCEDURE NO. 4150 TITLE: INVESTMENT OF FUNDS BASED ON POLICY: 4.15 INVESTMENT OF SURPLUS FUNDS OFFICE OF PRIMARY RESPONSIBILITY: VICE PRESIDENT FOR
More informationINVESTMENT POLICY. I. Introduction
INVESTMENT POLICY I. Introduction The purpose of this document is to identify policies and procedures that enhance opportunities for a prudent and systematic investment program and to organize and formalize
More informationCity of Palo Alto (ID # 8273) City Council Staff Report
City of Palo Alto (ID # 8273) City Council Staff Report Report Type: Consent Calendar Meeting Date: 6/27/2017 Summary Title: Investment Policy Update Title: Adoption of Fiscal Year 2018 Investment Policy
More informationDISTRICT CODE: 705 DEPOSITORY OF FUNDS AND INVESTMENTS
SCHOOL POLICIES HOPKINS SCHOOL DISTRICT 270 1001 HIGHWAY 7 HOPKINS, MINNESOTA 55305 DISTRICT CODE: 705 DEPOSITORY OF FUNDS AND INVESTMENTS Policy reflects Minnesota statute and aligns with other District
More informationInvestment Policy Guidelines of the Modesto Irrigation District
Investment Policy Guidelines of the 2013 (approved by Board on 1/22/2013) 1231 Eleventh Street Modesto California 95354 Table of Contents A. Policy... 1 B. Scope... 1 C. Funds... 1 D. Prudence... 1 E.
More informationBERWYN PARK DISTRICT. - Investment Policy -
BERWYN PARK DISTRICT - Investment Policy - I. AUTHORITY The Board of Commissioners delegates responsibility for the management of the agency s funds. The executive director, with full and complete backing
More informationOFFICE OF THE AUDITOR-CONTROLLER/TREASURER/TAX COLLECTOR COUNTY OF SAN BERNARDINO
OFFICE OF THE AUDITOR-CONTROLLER/TREASURER/TAX COLLECTOR COUNTY OF SAN BERNARDINO TREASURER S STATEMENT OF INVESTMENT POLICY As approved by the Board of Supervisors on May 20, 2014 SCOPE: The County of
More informationCuyahoga County Treasury Department
Cuyahoga County Treasury Department Statement of Investment Policy This version effective as of October 19, 2017 Table of Contents Purpose Scope of the Investment Policy Investment Objectives Delegation
More informationINVESTMENT AND PORTFOLIO POLICIES REVISED: May 2017
/ "I'm not as concerned about the return on my principal as I am the return of my principal." WILL ROGERS LEE COUNTY, FLORIDA CLERK OF CIRCUIT COURT (DEFACTO CLERK TO THE BOARD) REVENUE AND INVESTMENT
More informationRESOLUTION NO A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN BENITO COUNTY WATER DISTRICT RESTATING THE DISTRICT S INVESTMENT POLICY
RESOLUTION NO. 2016-11 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SAN BENITO COUNTY WATER DISTRICT RESTATING THE DISTRICT S INVESTMENT POLICY WHEREAS, Article 2 of Chapter 4 of the California Government
More informationREVENUES FROM INVESTMENTS/USE OF SURPLUS FUNDS (District Utilizes a Third Party to Manage Some or All of Its Investments) DRAFT
EXPLANATION: REVENUES FROM INVESTMENTS/USE OF SURPLUS FUNDS (District Utilizes a Third Party to Manage Some or All of Its Investments) NOTE: MSBA offers two versions of policy DFA, Revenues from Investments
More informationSUFFOLK COUNTY WATER AUTHORITY ANNUAL INVESTMENT REPORT FISCAL YEAR ENDED MAY 31, 2013
ANNUAL INVESTMENT REPORT FISCAL YEAR ENDED MAY 31, 2013 ANNUAL INVESTMENT REPORT OF THE SUFFOLK COUNTY WATER AUTHORITY FOR THE FISCAL YEAR ENDED MAY 31, 2013 AUTHORIZATION Title 7, Section 2925, Paragraph
More information