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AG 2007 01 22
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AG 2007 01 22
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Last modified
12/28/2012 11:19:49 AM
Creation date
11/27/2017 11:29:58 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
1/22/2007
Board
Board of Commissioners
Meeting Type
Regular
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The County will diversify its investments by security type and institution. With the exception of U.S. <br />Treasury securities and agencies and authorized pools, no more than 35% of the County's total investment <br />portfolio will be invested in a single security type or with a single financial institution. lt_,_i;s.,dcs_i,r~~hl~._to <br />diversify by security typL, however. if the . ~i} etci is hitcher, then. n.~ore than 3i"~~ i~f the Co~nlt~ > _tc>t~l <br />investmLnt xi ~rtt~olio ma}' he invested in the same security t~~e. <br />To the extent possible, the County will attempt to match its investments with anticipated cash flow <br />requirements. Beyond identified cash flow needs, investments will be purchased so that maturities are <br />staggered to avoid undue concentration of assets in a single maturity range, however, the County will not <br />directly invest in securities maturing more than (5) years from the date of purchase. The County may <br />collateralize its repurchase agreements using longer-dated investments not to exceed ten (10) years to <br />maturity. <br />It is the County's full intent, at the time of purchase, to hold all investments until maturity to ensure the <br />return of all invested principal dollars. However, economic or market conditions may change, making it in <br />the County's best interest to sell or trade a security prior to maturity. <br />All moneys earned and collected from investments other than bond proceed earnings will be allocated <br />quarterly to various fund amounts based on the quarter's average cash balance in each fund as a percentage <br />of the entire pooled portfolio. Earnings on bond proceeds will be directly allocated to the same proceeds. <br />The Finance Director is charged with the responsibility of preparing a monthly investment inventory report, <br />which includes investment types, cost, market value, maturity date and yield. This shall serve as the <br />County's investment policy. <br />~- 1 ~ <br />
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