CITY COUNCIL AGENDA ITEM
Memo Date: January 2, 2024
Agenda Date: January 9, 2024
Prepared By: Rebecca Bowman, MBA, CGFO, CGFM, Finance Director
Through: Stockton Whitten, City Manager
Requested Action:
title
Informational Annual Investment Report for FY2023
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BACKGROUND:
In accordance with Florida Statutes Sec. 218.415, investment activity by a unit of local government must be consistent with a written investment plan adopted by the governing body. The City last updated its Investment Policy on July 24, 2019. Section XV. Reporting/Article B. Annual Investment Report of the City’s investment Policy states that:
On an annual basis, the City’s Investment Manager shall submit to the City’s Finance Director, City Council and Investment Committee (as applicable) a written report on the long-term core investment funds.
The City’s Investment Manager, Public Trust Advisors, will provide the City Council with a brief presentation to report the City’s investment status as of the fiscal year-ended September 30, 2023.
STRATEGIC PLAN CONNECTION:
Goal 2: Promote greater transparency in budgeting and financial matters.
BUDGETARY IMPACT:
Budgeted N/A
PREVIOUS ACTION:
The last investment presentation to City Council was on January 11, 2022.
RECOMMENDED MOTION:
Recommendation
N/A