Council Adopts Investment Policy for Fiscal Year 2020

The Public Funds Investment Act (PFIA) requires the Council to annually adopt the Town's Investment Policy.  Finance staff, along with the Town's investment adviser, Hilltop Securities, determined that minor changes to the existing policy were needed. Chief Financial Officer Olivia Riley shared those changes with Council at its October 8 meeting.

Direct management responsibility for the investment program is delegated by the City Council to the Chief Financial Officer. The investment policy that Council adopted on October 8 has the following priorities:

• Understanding the suitability of the investment to the financial requirements of the Town
• Preservation and safety of principal
• Liquidity
• Marketability of the investment if the need arises to liquidate the investment prior to maturity
• Diversification of the investment portfolio
• Yield

You can watch Council's Investment Policy discussion here and read the presentation that details the changes here.