Focus Area: Economy
Staff Contact: Jamie Robichaud
Subject: Consideration of Resolution No. 25-1093 adopting the City’s Investment and Cash Management Policy
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title:
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Consideration of Resolution No. 25-1093 adopting the City’s Investment and Cash Management Policy
Body
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Summary:
The Kansas Pooled Money Investment Board (PMIB) requires annual review and approval of the City’s Investment and Cash Management Policy for granting and renewing Expanded Investment Authority. Expanded Investment Authority allows the City to invest in a broader set of investment options with maturity terms of four years versus the standard two years allowed under state statute.
In the 2025 state legislative session, several changes were made to state statues requiring the investment of public funds, so staff is proposing amendments to the City’s investment and cash management policy to stay in compliance with state statute. We have also adjusted some of the qualifications of the investment staff to ensure consistency with job descriptions and hiring practices.
Finance staff reviewed this policy in collaboration with the Legal Department and the City’s financial advisor who provides investment services, Columbia Capital, to arrive at the proposed revisions.
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Financial Impact:
Expanded investment powers give the City additional investment options, which can result in a higher yield compared to more restrictive options without expanded powers, while still ensuring the City’s investment options are high-quality investment tools with minimal risk.
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Action Needed:
Make a motion to approve Resolution No. 25-1093, adopting the City’s Investment and Cash Management Policy
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Attachment(s):
A. Resolution No. 25-1093: Investment and Cash Management Policy
B. Resolution No. 25-1093: Investment and Cash Management Policy (redlined)