10 - Re-approve City Investment PolicyItem No. 10
Memorandum
TO: Mayor, Mayor Pro Tem, & City Council
Grayson Path, City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: CITY INVESTMENT POLICY 2024
DATE: January 8, 2024
BACKGROUND: As required under the Local Government Code Section 2256.005, the City has
a written investment policy. The policy serves as a guide regarding investment objectives and
strategies. The policy addresses issues such as policy scope, prudence, training, conflicts of
interest, suitable investments, collateralization, diversification, and reporting.
STATUS OF ISSUE: The investment policy states that annually the City Council will review and
re -adopt the investment policy approving any changes. There are no proposed changes to the policy
for the 2024 year except for updating the funds covered by the policy. The policy complies with
Chapter 2256 of the Local Government Code also known as the Public Funds Investment Act.
BUDGET: Not affected by this policy.
RECOMMENDATION: Motion to adopt the City investment policy as submitted.