From
Diana G. Ortiz, Chief Financial Officer
Title
Resolution approving the City of Grand Prairie Investment Policy, without revision, to become effective upon passage and approval
Presenter
Diana G. Ortiz, Chief Financial Officer
Recommended Action
Approve
Analysis
The City's Investment Policy is reviewed each year for necessary revisions to operational procedures, staffing changes and/or new state/federal regulations. Government Treasurers' Organization of Texas (GTOT) also reviews investment policies and has awarded the Certificate of Distinction to the City for maintaining a comprehensive, written investment policy that adheres to State Law.
Staff recommends no changes to the City's Investment Policy except for it to be approved by the City Council. The Finance and Government Committee reviewed the policies at the October 13, 2015 meeting and recommends adoption of the current policy without revision.
Financial Consideration
There is no financial impact resulting from this action.
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, APPROVING THE CURRENT CITY OF GRAND PRAIRIE INVESTMENT POLICY WITHOUT REVISION TO BECOME EFFECTIVE UPON PASSAGE AND APPROVAL
Whereas, it is the goal of the City to maintain a long-term, stable and positive financial condition; and,
Whereas, well-planned and prudent public funds investment management is essential to the achievement of the City's goal;
Whereas, the City is required by State law to review, revise if necessary and adopt the City Investment Policy on an annual basis; and,
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of GRAND PRAIRIE, Texas that:
Section 1. That the City Council hereby adopts the current City's Investment Policy without changes.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, ON THIS THE 13TH DAY OF OCTOBER, 2015.