Title
Recognition of Certification of the City's Investment and Debt Policies by the Association of Public Treasurers of the United States and Canada (APTUSC).
Body
Item Summary:
The APTUSC manages an Investment Policy Program and Debt Policy Program, which provides public officials with guidance and technical assistance in developing comprehensive written investment and debt policies. The Investment and Debt Policy Programs are unique as they are the only programs that provide a review and certification component. To become certified, a government submits their investment and debt policies to APTUSC for peer review and certification. The programs are designed to build trust and confidence that the City has taken the extra professional step of having the APTUSC review and certify that the City's policies are professionally accepted policies.
The Investment Policy Certification Committee and the Debt Policy Certification Committee are comprised of public and private sector volunteers to serve as reviewers. The Investment Policy Certification Committee focuses on the following areas: Objective of Investments, Ethics and Conflicts of Interest, Authorized Financial Dealers and Institutions, Authorized and Suitable Investments, Investment Pools/Mutual Funds, Safekeeping and Custody, Diversification, Maximum Maturities, Performance Standards and Reporting.
The Debt Policy Certification Committee focuses on the following areas: consistency with legal authority to issue debt, appropriate for capital funding objectives, as well as management and limitations of debt.
Committee or Staff Recommendation:
N/A
Financial Impact:
N/A
Presented by:
Finance Director, Keith Lee