Title
Village Investment Policy - Acknowledgement
History
GFOA best practices recommend that all governments establish a comprehensive written investment policy that is periodically reviewed and acknowledged by the governing body. Staff recently reviewed the Village's current investment policy and is requesting that the Board acknowledge the most current version.
The Village's investment portfolio is currently managed by two investment managers - PMA Financial Network, Inc. and Hammond Investments, LLC. A number of years ago, each of these investment management firms were selected thru a competitive RFP process. In early 2018, the Village will issue an RFP seeking investment management services to ensure we are getting the highest quality services at the most cost effective price.
On November 6, 2017, this item was reviewed by the Finance Committee, recommended for approval and referred to the Village Board of Trustees for consideration.
Financial Impact
Recommended Action/Motion
I move to acknowledge the Village's Investment Policy as presented.