(A) General investment policy. It is the policy of the City of Middletown to invest public funds in a manner which will provide the maximum security and highest investment of principle while meeting the daily cash flow demands on the City of Middletown and conforming to both KRS 91A.060 and KRS 66.480. This investment policy applies to all financial assets held directly by the City of Middletown. These financial assets are accounted for in the City of Middletown annual financial report and include all moneys in investment fund accounts.
(B) Scope.
(1) This investment policy applies to all financial assets held directly by the city. These financial assets are accounted for in the city's annual financial report and include all moneys in the following funds:
(a) General Fund;
(b) Special Revenue Fund;
(c) Capital Projects Fund;
(d) Enterprise Fund;
(e) Utility Depreciation Fund;
(f) Agency Fund; and
(g) Any new fund created by the governing body.
(2) Financial assets of the city held and invested by trustees or fiscal agents are excluded from these policies; however, such assets shall be invested in accordance with state laws applicable to the investment of local government funds and in accordance with the City of Middletown's primary investment objectives.
(Ord. 08-08-19-B, passed 9-12-2019)