Presenter/Contact
Presenter
Sandy Paulos, Assistant CFO
Contact Info
(830) 221-4387 - spaulos@nbtexas.org
Subject Header
SUBJECT:
Title
Approval of a resolution adopting the Investment Policy for the City of New Braunfels including the Broker/Dealer and Counterparties List.
Body
BACKGROUND / RATIONALE:
This agenda item requests approval of the City’s current Investment Policy and Broker/Dealer and Counterparties List. State of Texas statutes require cities to have investment policies and to review and approve those policies annually. Attached for City Council consideration is the Investment Policy to meet these statutory requirements. The City last amended its policy in November 2019. The current policy meets all the statutory requirements for a city’s policy.
Hilltop Securities, the City’s investment advisors, have reviewed the City's current Investment Policy and have made several recommendations for updates this year, which have been incorporated into the policy. The Broker/Dealer and Counterparties List has also been updated and includes the addition of two broker/dealers and/or counterparties.
ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:
|
X |
Yes |
City Plan/Council Priority |
Strategic Priorities: 8-Maintain fiscal stability of City Operations |
FISCAL IMPACT:
None
Recommendation
COMMITTEE RECOMMENDATION:
N/A
STAFF RECOMMENDATION:
Staff recommends approval of the resolution adopting the attached Investment Policy for the City of New Braunfels and the current Broker/Dealer and Counterparties List.