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Investment policy found compliant; finance staff propose updated financial policy and reserve targets
Summary
Investment advisers reported the city’s portfolio complies with its investment policy at fiscal year-end; staff presented a revised financial policy that incorporates plain-language changes, new GASB guidance on capitalization and a proposed target for fund balance reserves
The council heard an annual investment-policy review and a proposed update to the city’s financial policy at the Oct. 20 work session.
Government Portfolio Advisors (GPA) reported that Albany’s portfolio complied with the city’s diversification and maturity constraints as of the June 30 fiscal-year close. GPA said the…
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