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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 1/22/07 Agenda Item # ~- ~ ~-- <br />SUBJECT: <br />Revised Investment Policy for Cabarrus County <br />BRIEF SUMMARY: <br />The current investment policy is attached for review, with a suggested change made in the <br />area of diversification of investments. Currently, no more than 35% of the county's <br />investments can be in a particular institution or secruity type. The suggested change will <br />allow the County to exceed the 35% limit if it will result in a higher yield, thus increasing <br />investment earnings. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />Approval of the revision to the County Investment Policy as presented <br />Attachments ^X Yes ^ No Expected Length of Presentation <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 1/3/07 <br />Budget Amendment Required: ^ Yes ^X No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^ Yes [] No <br />County Manager's Recommendations/Comments: <br />Approval is recommended. <br />Action Taken: <br />Approved [ ] Deferred [ ] <br />Denied [ ] Other [ ] <br />r ~~ <br />