Resolution 1988-21 - Laserfiche WebLink

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EXHIBIT A CITY OF LOUISVILLE INVESTMENT POLICY Policy 37 The City of Louisville shall manage and invest its cash within the guidelines established by the Colorado State Statutes with three objectives, listed in order of priority: 1.) safety, 2.) liquidity, and 3.) yield. The City shall maintain a cash management program which includes collection of accounts receivable, disbursement of funds, and prudent investment of its available cash. Policy 38 The Director of Finance is the City's investment officer and is responsible for the City's cash management program, including the administration of these Investment Policies. The Director of Finance, under the supervision of the City Administrator shall be responsible for authorizing investments, properly accounting for these investments, and maintaining proper internal controls of investment functions. Policy 39 As permitted by law and City Ordinances and to maximize the effective investment of assets, all funds needed for general obligations may be pooled into one account for investment purposes. The income derived from this account will be distributed to the various funds based on their average balances on a periodic basis. Proceeds of bond issues shall not be pooled with other assets of the City but shall be invested as provided by applicable bond ordinances. All investments shall be made in the State of Colorado with the preference that investments be made in Louisville financial institutions providing their rates are within generally competitive ranges as determined by the Director of Finance. Eligible depositories for investments shall be: 1) All state and national banks located in the State of Colorado which are insured by the Federal Deposit Insurance Corporation and which are approved as eligible pUblic depositories by the State of Colorado Banking Commissioner. 2) All state and federally chartered savings and loan associations located in the State 1