Council Adopts Investment Policy

Published:
Fri 10/16/20
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The Public Funds Investment Act (PFIA) requires the Council to annually adopt the Town's Investment Policy. This policy 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
 
At its October meeting, Council approved the investment policy which included changes recommended by the Finance staff and the Town's investment adviser, Hilltop Securities.
 
You can watch the Council's Investment Policy discussion here and read the Investment Policy presentation here and the red-lined changes to the policy here.
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