PRESENTER: Presenter
Carren Ridge, Accounting & Treasury Manager
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SUBJECT: Title
Approval of a resolution adopting the Investment Policy for the City of New Braunfels including the Authorized Broker/Dealer list.
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DEPARTMENT: Finance
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COUNCIL DISTRICTS IMPACTED: N/A
BACKGROUND INFORMATION:
The Investment Policy of the City of New Braunfels, Texas, is presented in accordance with Chapter 2256, Texas Local Government Code, the Public Funds Investment Act. This policy establishes guidelines for the Investment Officers regarding how City funds will be invested. The policy also establishes guidelines for periodic review and reporting of investments. The City last amended its policy in October 2022. Attached for City Council consideration is the Investment Policy to meet the statutory requirements.
The Authorized Broker/Dealer List has also been updated and includes the addition of three broker/dealers and the removal of twenty-four broker/dealers.
ISSUE:
Strategic Priorities: Maintain fiscal stability of City Operations
FISCAL IMPACT:
N/A
Recommendation
STAFF ANALYSIS:
Staff recommends approval of the resolution adopting the attached Investment Policy for the City of New Braunfels and Authorized Broker/Dealer List.