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Item No. 8 <br />memorandum <br />TO: City Council <br />John Godwin, City Manager <br />FROM: Gene Anderson, Finance Director <br />SUBJECT: CITY INVESTMENT POLICY <br />DATE: December 27, 2016 <br />BACKGROUND: As required under the local government code, the City has a written <br />investment policy. The policy serves as a guide regarding investment objectives and strategies. <br />The policy addresses issues such as policy scope, prudence, training, conflicts of interest, <br />suitable investments, collateralization, diversification, and reporting. <br />STATUS OF ISSUE: The investment policy states that annually the City Council will review <br />and re -adopt the investment policy approving any changes. The only proposed changes to the <br />current policy is the routine addition or deletion of funds needed for operating purposes. The <br />policy complies with Chapter 2256 of the Local Government Code also known as the Public <br />Funds Investment Act. <br />BUDGET: Not affected by this policy. <br />RECOMMENDATION: Motion to adopt the City investment policy as submitted. <br />