City Council

NB 1. Adopt Resolution updating a Policy for the Investment of Public Funds\nRecommendation(s):\nAdopt Resolution No. _____, rescinding Resolution No. 18-06 in its entirety, and\nestablishing a policy for the investment of public funds for the City of Lancaster.\nInvesting funds is a crucial component of a sound financial and cash management program. A\nformal investment policy is necessary to identify investment objectives, define risk tolerance,\nassign responsibility, and establish control over the investment process. The Investment\nPolicy of the City of Lancaster (the City), in conformance with State laws, is intended to\nprovide guidelines to the City Treasurer for the prudent investment of the City's temporary\nidle cash not governed by bond indentures or bond resolutions, and to outline policies for\nmaximizing the efficiency of the City's cash management system.