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File #: 2023-409   
Type: Resolution Status: Agenda Ready
File created: 10/11/2023 In control: City Council
On agenda: 12/7/2023 Final action: 12/7/2023
Title: Consider a resolution adopting an updated Investment Policy & Strategy for the City of Round Rock, Texas.
Attachments: 1. Resolution, 2. Exhibit A, 3. Redline Pg 15

Title

Consider a resolution adopting an updated Investment Policy & Strategy for the City of Round Rock, Texas.

 

Body

Investing and reporting of the City’s cash and investments are governed by the City’s investment policy and the Texas Government Code, Chapter 2256 - referred to as the Public Funds Investment Act (PFIA).  The PFIA requires governmental entities to submit their investment policies to the governing body for review and updates, if needed, at least annually.

 

The objectives of the City’s investment portfolio remain, in order of importance and in accordance with the PFIA:  (1) safety of principal; (2) liquidity and (3) yield. This year's policy contains only one minor update to the  broker/dealer list.  There have been no state or federal related changes to the laws and regulations governing local government investing for the City, and no changes to the City's portfolio management strategy.  Therefore, no other changes are needed.

 

Staff will provide a brief overview of the policy at the Council meeting.

 

Staff recommends approval.