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CITY COMMISSION AGENDA ITEM |
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Department: |
Finance |
Commission Meeting Date: November 15, 2016 |
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Staff Contact: |
Bryan Kidney |
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Recommendations/Options/Action Requested: |
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Approve the City of Lawrence’s Investment Policy |
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Executive Summary: |
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) and Section 1.0 of the policy require an annual review of the City’s investment policy prior to their continued approval of expanded investment powers.
The City’s investment policy was reviewed by Columbia Capital Management, LLC who assisted City staff in making minor updates to bring the policy in line with best practices. |
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Strategic Goal Area: |
None |
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Fiscal Impact (Amount/Source): |
No fiscal impact to the City |
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Attachments: |
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