Council Adopts Investment Strategy

Published:
Mon 10/18/21
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At its October 12 meeting, the City Council approved the Town's Investment Policy for Fiscal Year 2022 which includes the Town's Investment Strategy. The Public Funds Investment Act (PFIA) requires the Council to annually adopt the Town's Investment Policy which applies to the investment and management of all funds of the Town. Direct management responsibility for the investment program is delegated by the City Council to the Chief Financial Officer. The investment policy has the following priorities:
 
  • Preservation and safety of principal
  • Understanding the suitability of the investment to the financial requirements of the Town
  • Liquidity
  • Marketability of the investment if the need arises to liquidate the investment prior to maturity
  • Diversification of the investment portfolio
  • Yield
 
Finance staff determined that no changes were needed to the Town's investment policy.
 
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