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Item No. 7 <br />Memorandum <br />TO: Mayor, Mayor Pro Tem, & City Council <br />Grayson Path, City Manager <br />FROM: Gene Anderson, Finance Director <br />SUBJECT: CITY INVESTMENT POLICY 2023 <br />DATE: January 9, 2023 <br />BACKGROUND: As required under the Local Government Code Section 2256.005, the City has <br />a written investment policy. The policy serves as a guide regarding investment objectives and <br />strategies. The policy addresses issues such as policy scope, prudence, training, conflicts of <br />interest, suitable investments, collateralization, diversification, and reporting. <br />STATUS OF ISSUE: The investment policy states that annually the City Council will review and <br />re -adopt the investment policy approving any changes. There are no proposed changes to the policy <br />for the 2023 year except for updating the funds covered by the policy. The policy complies with <br />Chapter 2256 of the Local Government Code also known as the Public Funds Investment Act. <br />BUDGET: Not affected by this policy. <br />RECOMMENDATION: Motion to adopt the City investment policy as submitted. <br />