AGENDA CAPTION:
Title
Consider approval of Resolution 2026-180R, adopting an Investment Policy for Operating and Reserve Funds; and declaring an effective date.
Body
Meeting date: October 7, 2026
Department: Finance - Jon Locke, Finance Director
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: The previous investment policy was adopted by City Council on September 16, 2025 by Resolution 2025-180R.
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Background Information:
The Public Funds Investment Act (PFIA), Chapter 2256 of the Texas Government Code, governs the investment of public funds by Texas public entities. It mandates the development of written investment policies, staff training, and strict adherence to safety, liquidity, and authorized investment guidelines. Under PFIA, the Investment Officer is required to present the City’s investment policy to the City Council for adoption annually.
At the Finance and Audit Committee meeting held on September 22, 2026, staff presented the proposed updates, which included:
• No changes to the Investment Policy.
• Add Jefferies to the broker/dealer list.
Council Committee, Board/Commission Action:
Presentation and discussion with the Finance and Audit Committee on September 22, 2026.
Alternatives:
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Recommendation:
Staff recommends approval of the Resolution.