Investment policy updated
At a glance
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The committee approved an updated investment policy, a quarterly investment report showing portfolio yield rose to 3.12% from 2.94%, and the annual report to City Council, all by 4-0 votes.
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What this means
The committee approved changes to how the city can invest its money, including updates to money market funds, mutual funds, commercial paper, and extending the policy sunset date from 2026 to 2031. It also approved the quarterly report showing the portfolio yield increased to 3.12% from 2.94% last quarter, while staff continued a five-year laddering strategy. The annual report to City Council was also approved. No public comments were made.
Key decisions
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- Approved the quarterly investment report (4-0); portfolio yield increased to 3.12% from 2.94% last quarter.
- Approved the proposed Investment Policy with changes to money market funds, mutual funds, commercial paper, and the sunset date extended to 2031 (4-0).
- Approved the annual report to City Council (4-0).
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Meeting information
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Investment Review Committee Regular Meeting
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