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07-;)37
DATE SUBMITTED: 9/18/07
BILL #
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
........................................................................................
SUBJECT: Resolution No. ,!>o3S
Amending a Policy for the Investment of
City Funds as adopted by Resolution 2618
Committee Meeting Date: 9/26/07
COUNCIL MEETING Date: 10/3/07
Department: Financial Services
Presenter: Cathy Johnson
Phone: 473-5296
SUMMARY: The Investment policy should periodically be reviewed and updated to reflect current
practices and changing local needs in order to provide for sound management of its financial assets.
A review of the current policy has resulted in recommended changes to reflect current best practices
as established by the Association of Public Treasurers and also to strengthen the ability to measure the
performance of our portfolio in relation to the market.
A TT ACHMENTS: Resolution, Amended Investment Policy and Discussion Memo.
FISCAL IMPACTS (Include Budgeted Amount): Adoption of the resolution will have no direct
fiscal impacts.
Vl-:J
CONSENT AGENDA ~
GENERAL BUSINESS D
PUBLIC HEARING D
RECOMMENDED MOTION: Move to approve Resolution No. 2> 03'5 amending a Policy for
the Investment of City Funds as adopted by Resolution 2618.
APPROVALS:
DEP ARTMENT DIRECTOR.
CITY ATTORNEY:
FINANCE DIRECTOR:
MA YOR:
COMMITTEE CHAIR
COUNCIL PRESIDENT:
COUNCIL ACTION: ~pprove D Deny D Table
D Continue D No Action