Broken Arrow City Council
Meeting of: 06/06/2022
Title:
title
Approval of and authorization to execute Resolution No. 1461, a Resolution of the City Council of the City of Broken Arrow adopting the City of Broken Arrow Investment Policy
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Background:
In 2009 the City of Broken Arrow adopted an Investment Policy that needs to be reviewed and updated as needed. Since the policy had not been updated since 2009, staff updated the policy to conform with federal, state, and local laws. We looked at several communities to compare our policy others and discovered that ours was out of date and needed to be updated.
At the April 5, 2022, the attached investment policy was presented to Finance Audit Committee and then sent to the City Legal team for review.
In the future this policy will be reviewed on a yearly basis and brought back to council should there be any necessary changes.
Cost: $0
Funding Source: N/A
Requested By: Cynthia S. Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: Investment Policy, Resolution 1461
Recommendation:
recommend
Approve and authorize execution of Resolution No. 1461 and adopt the Investment Policy
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