Memorandum

City of Lawrence

Finance Department

TO:	Diane Stoddard, Interim City Manager
CC:	Bryan Kidney, Finance Director
FROM:	Laura Warner, Accountant
DATE:	November 12, 2015
RE:	Investment Policy

Background

The City of Lawrence was authorized expanded investment powers under K.S.A. 12-1677b in 1999.  The statute allows the city to invest in government agencies and extends the maximum maturity of an investment from two years to four years.  The Pooled Money Investment Board (PMIB) requires an annual review of the city’s investment policy prior to their continued approval of expanded investment powers.

Description

An updated investment policy was reviewed and approved by the City Commission on June 26, 2012.  No changes have been made to the attached revised investment policy since that approval.  However, PMIB and Section 1.0 of the policy require annual approval of the investment policy by the City Commission.

Staff Recommendation

It is recommended that the City Commission approve the attached Investment Policy.