HomeMy Public PortalAboutAB 07-71 Investment Policy
McCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, ID 83638
Number AB 07-71
Meeting Date May 10, 2007
AGENDA ITEM INFORMATION
Approvals: Department/ Initials Remarks
SUBJECT:
Committee/Individual (Originator/
Support)
Investment Policy
Mayor / Council
Resolution 07-7
City Manager
Airport
City Clerk, Deputy Clerk
Community Development
Grant Coordinator
Golf Operations
Library
Parks
Police Department
COST IMPACT:
Public Works
Recreation
FUNDING SOURCE: Future investments
Treasurer Originator
City Attorney
TIMELINE: Immediately upon adoption
Other
SUMMARY STATEMENT:
The City is currently investing 100% in the Local Government Investment Pool (LGIP). The attached
policy is in response to last year’s recommendation from the City’s auditors that the City develop an
investment policy.
This policy will be the City’s first formal investment policy. It will provide a safe and productive vehicle to
invest City funds outside of LGIP should the Treasurer deem it prudent and so recommend to the City
Manager and Council.
Resolution 07-71 relates to the approval of the investment policy and provides an effective date.
RECOMMENDED ACTION:
Adopt the investment policy and authorize the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
Meeting Date ACTION
th
April 26, 2007 Tabled until May 10, 2007 meeting