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(A) This section authorizes the creation and use of a Natural Resources Donations Reserve as a depository to accumulate funds for costs associated with specific projects of the Natural Resources Board (NRB).
(B) This reserve is classified as an assigned reserve.
(1) Objective. Provide the town’s NRB a mechanism to account for donation funds in one or more fiscal budget years for costs associated with specific projects of the NRB.
(2) Source of funds.
(a) Donated and grant funds from various sources.
(b) All earnings from investments of this reserve shall be redeposited back into this reserve.
(3) Authorized uses. Those costs associated with specific projects recommended by the NRB and approved through the town’s standard expenditure approval process.
(4) Administration. This section authorizes the Town Clerk to deposit, withdraw and pay obligations that are in full compliance with this chapter.
(Prior Code, § 3.A06.039) (Ord. 2018-14, passed 10-24-2018)
INVESTMENT POLICY
The intent of the investment policy of the town is to define the parameters within which funds are to be managed. In methods, procedures and practices, the policy formalizes the framework for the town’s investment activities that must be exercised to ensure effective and judicious fiscal and investment management of the town’s funds. The guidelines are intended to be broad enough to allow the Investment Board to function properly within the parameters of responsibility and authority, yet specific enough to adequately safeguard the investment assets.
(Prior Code, § 3.A08.010) (Ord. 2018-22, passed 12-12-2018)
(A) The investment program shall be operated in conformance with federal, state and other legal requirements, including W.S. § 9-4-820, W.S. § 9-4-821 and W.S. § 9-4-831(h).
(B) The governing body of the town shall be the Mayor and Town Council.
(Prior Code, § 3.A08.020) (Ord. 2018-22, passed 12-12-2018)
(A) This policy applies to activities of the town with regard to investing the financial assets of all funds. In addition, funds held by trustees or fiscal agents are excluded from these rules; however, all funds are subject to regulations established by the state. The covered funds, and any new funds created by the town, unless specifically exempted by the Oversight Board and this policy, are defined in the town’s Comprehensive Annual Financial Report.
(B) Note that any excluded funds such as employee retirement funds, proceeds from certain bond issues and foundation or endowment assets are covered by separate policies.
(C) Except for funds in certain restricted and special funds, the town commingles its funds to maximize investment earnings and to increase efficiencies with regard to investment pricing, safekeeping and administration. Investment income will be allocated to the various funds based on their respective participation and in accordance with generally accepted accounting principles.
(Prior Code, § 3.A08.030) (Ord. 2018-22, passed 12-12-2018)
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