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4/21/2017 11:10:13 AM
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4/21/2017 11:09:04 AM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
4/10/2017
Meeting Type
Regular
Resolution #
11409
Resolution Title
RESOLUTION AMENDING THE FINANCIAL POLICIES FOR THE CITY OF ROSEVILLE
Resolution Date Passed
4/10/2017
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Investment Policy <br /> Pu ose <br /> The purpose of the Investment Policy is to ensure the most efficient use of the City's idle funds, and to <br /> ensure the best return on these funds while making only those investments allowed by law. <br /> Policy <br /> ❖ The City will make a cash flow analysis of all funds on a regular basis. Disbursement, collection, <br /> and deposit of all funds will be scheduled to ensure maximum cash availability. <br /> ❖ When permitted by law, the City will pool cash from several different funds for investment <br /> purposes. <br /> ❖ The City will invest 99 percent of its idle cash on a continual basis. <br /> ❖ The City will obtain the best possible return on all cash investments. Such investments will only <br /> be those legally permissible under Minnesota law. <br /> ❖ The accounting system will provide regular information concerning cash position and investment <br /> performance. <br /> ❖ The City will make arrangements for banking services on a contractual basis for a specified <br /> period of three years, with specified fees for each service rendered. <br /> ❖ The City includes interest earnings and investment summaries as part of the Comprehensive <br /> Annual Financial Report (CAFR). <br /> Implementation <br /> See Investment and Portfolio procedures. <br /> Investment and Portfolio Procedures <br /> Scope <br /> These investment and portfolio procedures apply to the activities of the City with regard to investing the <br /> financial assets of all funds, including the following: <br /> ❖ General Fund <br /> ❖ Special Revenue Funds <br /> ❖ Capital Project Funds <br /> •'• Debt Service Funds <br /> •: Special Service Funds <br /> ❖ Internal Service Funds <br /> ❖ Trust and Agency Funds <br /> Page 13 of 15 <br />
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