Agenda

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City Council Regular Meeting

Meeting Date:

01/26/2021

BACKGROUND

The Investment Policy and Strategy of the City of Schertz guides staff in investing city funds. Much of the policy is outlined by the Public Funds Investment Act which ensures public entities make safe choices as to how they invest. The top priority with regard to investable public funds in both the Act and the City Policy is the safety of the funds invested. This means low risk investments that can be easily withdrawn in the event the City needs funding. In order to purchase securities as investment opportunities, the City must go through an investment broker. These firms purchase investment securities in the market on the City's behalf and provide detail research to help us make better decisions to fit our needs. The City of Schertz Investment Policy and Broker list require an annual reaffirmation by City Council.

The Investment Policy requires an annual review of the policy. After reviewing the policy, applicable statutes, and the current economic environment, the Investment Advisory Committee has recommended no changes to the current policy and strategy.

GOAL

City Staff and Investment Committee recommends Council approving the Investment Policy and Broker list in the documents attached.

COMMUNITY BENEFIT

Ensuring the City has a sound investment policy in line wiht State law.

SUMMARY OF RECOMMENDED ACTION

Approval of the Investment Policy.

FISCAL IMPACT

There will not be any fiscal impact.

RECOMMENDATION

The Investment Committee recommends approval of Resolution No. 21-R-10

Attachments
Resolution
Exhibit A
Exhibit B