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Council reaffirms Heath investment policy for fiscal 2025 to comply with Public Funds Investment Act
Summary
The Heath City Council unanimously approved a resolution reaffirming the city's investment policy for fiscal year 2025 to ensure compliance with the Texas Public Funds Investment Act; staff said there were no substantive changes to the policy.
The Heath City Council unanimously adopted a resolution Oct. 28 reaffirming the city's public-funds investment policy for fiscal year 2025 to comply with the Texas Public Funds Investment Act.
Finance Director Jay Ayers told the council the reaffirmation establishes standards for managing and protecting public funds, ensures transparency and accountability and retroactively reaffirms the investment policy for FY2025. He said the policy applies to all city funds and balances three objectives: safety of principal, liquidity to meet obligations and a reasonable yield while preserving safety and liquidity.
Ayers said there are no substantive changes in the policy since the last adoption. Council members asked whether the finance committee had reviewed the policy; Ayers said the finance committee was forwarded the policy and will be involved in FY2026 reviews. The council voted to adopt the resolution as presented.
The motion was made by Councilman Olmby and seconded by Councilwoman Horn and passed unanimously.
