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.
The attached policy document has been updated to reflect changes in portfolio limitations for certain investment types, update broker/dealer list, and other minor clarifications. All changes to the policy, other than formatting and reorganization, have been red-lined. All changes are minor updates that do not reflect any material shift in the City’s investing policy or practice.
In addition, this policy has also been reviewed by the City’s investment advisor, with their edits included as well.
Staff will provide a brief overview of the policy changes.
Staff recommends approval