Focus Area: Economy
Staff Contact: Jamie Robichaud
Subject: Consideration of Resolution No. 24-1061 adopting the City’s Investment and Cash Management Policy
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title:
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Consideration of Resolution No. 24-1061 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 with maturity terms of four years versus the standard two years allowed under state statute. Staff has reviewed the policy in collaboration with the City’s financial advisor and investment manager, Columbia Capital. After review, we are recommending no changes to the policy at this time as we made a number of updates to the policy in 2022.
Since the time of the last update, there have been no changes to state law regarding investments and the current policy complies with K.S.A. 12-1675.
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Financial Impact:
None
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Action Needed:
Approval of Resolution No. 24-1061 adopting the City’s Investment and Cash Management Policy
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Attachment(s):
A. Resolution No. 24-1061: Investment and Cash Management Policy
B. Investment and Cash Management Policy - redlined version