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,---ARZEN HILLS <br />MEMORANDUM <br />DATE: August 25, 2009 <br />TO: Honorable Mayor and City Council <br />Ron Moorse, City Administrator <br />FROM: Sue Iverson, Finance Director <br />SUBJECT: Investment Policy <br />Background: <br />In 2007, the Financial Planning and Analysis Committee presented the City Council with a <br />revised Investment Policy which the Council Adopted. <br />Discussion: <br />Each year the committee reviews this policy to recommend any changes to the City Council. <br />This year we had representatives from various financial organizations comment on our policy <br />and recommend some minor changes. The only major change was limiting the investment <br />duration to ten years. <br />Staff Recommendation: <br />Staff recommends approval of the attached Investment Policy being recommended by the <br />Financial Planning and Analysis Committee. <br />