City Council

NB 1. Adopt Resolution updating a Policy for the Investment of Public Funds Recommendation(s): Adopt Resolution No. _____, rescinding Resolution No. 18-06 in its entirety, and establishing a policy for the investment of public funds for the City of Lancaster. Investing funds is a crucial component of a sound financial and cash management program. A formal investment policy is necessary to identify investment objectives, define risk tolerance, assign responsibility, and establish control over the investment process. The Investment Policy of the City of Lancaster (the City), in conformance with State laws, is intended to provide guidelines to the City Treasurer for the prudent investment of the City's temporary idle cash not governed by bond indentures or bond resolutions, and to outline policies for maximizing the efficiency of the City's cash management system. COUNCIL AGENDA