Title
INVESTMENT POLICY
COUNCIL STRATEGIC INITIATIVE ADDRESSED:
Council Initiative: Continue effective financial management
CITY ATTORNEY REVIEW: REQUIRED
SUMMARY STATEMENT:
This “draft” policy establishes standards and guidelines for the direction, management and oversight of the City of Longview’s investments. Funds must be invested prudently to ensure preservation of principal, supply needed liquidity for daily cash requirements, and provide a market rate of return.
All investments of the City must conform to federal, state, and local statutes governing the investment of public funds.
RECOMMENDED ACTION:
Authorize City Attorney to prepare Investment Policy Resolution.
STAFF CONTACT:
Kurt Sacha, Assistant City Manager/Finance Director