(A) Scope. This investment policy applies to all transactions involving the financial assets and related activity of all of the funds of Owen County (the “county”) as defined below. The following funds are accounted for in the county’s annual financial report as reported by the State Board of Accounts:
(1) General Fund;
(2) Highway Fund;
(3) EMS Fund;
(4) Welfare Fund;
(5) Health;
(6) School Fund;
(7) Reassessment Fund;
(8) Capital Project Fund;
(9) Special Assessment Fund;
(10) Cumulative Bridge Fund;
(11) Election and Registration; and
(12) Poor Relief.
(13) Any new funds created by the county, unless specifically exempted by the county.
(B) Objectives and general philosophy.
(1) It is the highest policy of the county to invest the public funds in a manner which will provide the highest investment return with the maximum security while meeting the daily cash flow demands of the various funds and conforming to all statutes and other laws governing the investment of public funds at the county level.
(2) The primary objectives, in priority order, of the County Treasurer’s investment activities shall be:
(a) Safety. The safety of principal is the paramount objective of the investment program. Investment decisions shall ensure the preservation of capital in the portfolio.
(b) Liquidity. The portfolio shall remain sufficiently liquid to enable it to meet all cash flow and other operational, requirements, which are reasonably anticipated.
(c) Return. The investment strategy shall include the attainment of the highest rate of return through fiscal and economic cycles, within the boundaries of statutory constraints, cash-flow requirements and the primary objectives of safety and liquidity.
(d) Investment standard. Investments shall be made with the judgement and care, under the circumstances then prevailing, which person of reasonable caution, discretion and intelligence exercise in the management of their own affairs.
(e) Authority to invest. The Treasurer designates, in writing on file, which staff personnel possess the authority to invest county funds.
(3) Request for Proposal (RFP) will be utilized at the discretion of the Treasurer to document daily banking and investment proposals to include but not limited to, cost, services, rates and actions.
(4) Funds of the county will be invested in accordance with the I.C. 5-13-8 and 5-13-9, these policies as approved by the County Commissioners.
(5) Funds receiving interest, which is compounded back into each fund.
(a) County Revenue;
(b) Highway;
(c) Local Health Maintenance;
(d) E911; and
(e) Reassessment.
(CC Ord. 2017-03, passed 2-13-2017; Res. 2021-08, passed 1-19-2021)