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)