Title
A Resolution Adopting an Investment Policy
Summary
Description of Topic: (who, what, where, when, why and how much)
Finance is presenting a draft finance policy for Council consideration. It has undergone a courtesy review by an investment partner.
Budgetary Impact: N/A
Body
WHEREAS, the City currently follows State guidelines and past practices for investing idle funds, and
WHEREAS, the Finance Director has determined a need for the adoption of a formal Investment Policy.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, accepts the Finance Directors recommendation and adopts the attached Investment Policy, effective immediately.