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FOAC approves City of El Paso investment policy unchanged for 2025
Summary
The Financial Oversight and Audit Committee unanimously approved and recommended the City of El Paso investment policy — with no substantive changes proposed — for referral to City Council.
The Financial Oversight and Audit Committee unanimously approved and forwarded the City of El Paso investment policy to City Council on Oct. 9, saying the city had no proposed revisions for 2025.
The policy governs how the city invests public funds under the Texas Public Funds Investment Act. Luis Meyer of the Office of the Comptroller told the committee the Act requires a written investment policy and that the FOAC must approve and recommend the policy to City Council for adoption. Meyer said there were no proposed changes this year; the policy was last revised in October 2024.
Committee members voted 4-0 to approve the policy and send it on to City Council. Chair Representative Acevedo asked that the committee review the policy annually, and members agreed to a rescheduling of the November meeting earlier in the agenda so staff could accommodate a separate UNICEF USA event.
The action was procedural: FOAC reviewed the policy under its governance charge and recommended it, without amendment, for City Council adoption.
