|
CITY COMMISSION AGENDA ITEM |
|
|
Department: |
Finance |
Commission Meeting Date: September 19, 2017 |
||
|
Staff Contact: |
Bryan Kidney, Director |
|||
|
Recommendations/Options/Action Requested: |
|
|||
|
Review the Investment Policy for the City of Lawrence and approve if appropriate. |
|
|||
|
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.
|
|||
|
Strategic Plan Critical Success Factor |
Sound Fiscal Stewardship
|
|||
|
Fiscal Impact (Amount/Source): |
This policy allows the City to utilize expanded investments. The expanded investments result in a higher rate of return for the City’s investments. |
|||
|
Attachments: |
||||
|
Reviewed By: (for CMO use only) |
☐TM ☐DS ☒CT ☐BM |