City of Roswell - File #: 11-0486

• File #: 11-0486
• Version: 2
• Name: Amend to Investment policy - 8-22-11
• Type: General Item
• Status: Passed
• File created: 7/22/2011
• In control: Mayor and City Council
• On agenda: 8/22/2011
• Final action: 8/22/2011
• Title: Approval of an amendment to the City of Roswell Investment Policy. Finance

Date	Ver.	Action By	Action	Result
8/22/2011	2	Mayor and City Council	Approved	Pass
8/9/2011	1	Administration and Finance & Recreation and Parks Committee	Approved for the Regular Agenda	Pass

Title

Approval of an amendment to the City of Roswell Investment Policy.

Finance

Body

Item Summary:

This proposed amendment will change the City of Roswell's Investment Policy to allow purchases of securities with maturities up to five years with an average maturity for the investment portfolio not to exceed three years. The current policy allows maturities up to three years. This amendment will provide opportunities to earn higher rates of interest on purchased securities. 

Committee or Staff Recommendation:

On August 9, 2011 the Administration and Finance and Recreation and Parks Committee recommended placing this item on the August 22, 2011 Mayor and Council Agenda.

Financial Impact:

N/A

Presented by:

Julia Luke, Director of Finance