(A) This investment policy and the outlining investment practices and authorities is compiled in accordance with the Public Funds Investment Act (Tex. Gov’t Code, Chapter 2256), which requires the adoption of rules governing investment of funds and the designation of an investment officer.
(B) The Director of Finance will serve as the senior investment officer. The Director may, when necessary, designate additional investment officers. Responsibility and authority for daily investment transactions and cash management reside with the Director of Finance. The Director of Finance is also responsible for considering the quality and capability of staff involved in investment management and procedures. The Director of Finance will insure that staff involved in the investment function comply with all training requirements established by the Public Funds Investment Act (Tex. Gov’t Code, Chapter 2256). All participants in the investment process shall seek to act responsibly as custodians of public trust.
(Res. 2009-01, passed 3-7-2009)