DEPARTMENT: Finance
DEPARTMENT HEAD: Troy Elliott
COUNCIL DISTRICTS IMPACTED: City-Wide
SUBJECT:
Investment Policy Annual Review
SUMMARY:
This Ordinance approves an Investment Policy and Strategy for the City of San Antonio, Texas, in accordance with the requirements of the Texas Public Funds Investment Act (the "Act"), as amended, for City Council to annually review and approve the City's Investment Policy; designates certain employees as Investment Officers for the City of San Antonio; and provides an effective date.
BACKGROUND INFORMATION:
The purpose of the City of San Antonio, Texas Investment Policy (the "Investment Policy") is to provide a framework for the prudent and efficient investment of City funds, with the objectives of satisfying cash flow requirements, preservation and safety of principal, liquidity and diversification, maximizing yield, and proactive portfolio management. The Investment Policy designates the following employees as Investment Officers for the City: Chief Financial Officer, Deputy Chief Financial Officer, Assistant Director of Finance - Financial Services, and the following individuals from the Financial Management Division: Financial Management Administrator, Financial Manager, Banking Officer, and Investment Officers. The Investment Policy also designates the composition of the City's Investment Committee. The Investment Committee is comprised of two representatives from the City Council; three representatives from the City Manager's Office including the Chief Financial Officer; Deputy Chief Financial Officer; Director of the Office of Management and Budget; Assistant Director of Finance - Financial Services; and the following individuals from the Financial Management Division: Financial Management Administrator, Financial Manager, Banking Officer, and Investment Officers.
The Act requires an annual review of the Investment Policy by City Council. The Texas Legislature was not in session this year; there...
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