Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Investment Policy topic
No spam. Unsubscribe anytime.
Doral council approves updated investment policy to align with state law and best practices
Summary
The City of Doral adopted Ordinance No. 2025-21 on first reading, updating its investment policy to comply with Florida statute and professional best practices; the finance director said the city’s adviser recommended the changes and the policy will be reviewed annually.
The City of Doral council voted unanimously on first reading to adopt Ordinance No. 2025-21, a ratified investment policy for the city.
The update, presented by Finance Director Solange El Perez, is intended to “set forth the investment objectives and parameters for the management of the public funds of the city” and to meet the requirements of Florida law and recognized professional organizations. “In accordance with section 2 18.415 of the Florida statutes that allows the city to adopt an investment policy,” El Perez told the council, adding that the city’s investment adviser, PFM Asset Management, reviewed the policy and recommended the changes.
The ordinance incorporates the city’s investment parameters, references that the finance department will review the policy annually, and is intended to align the city with the Association of Public Treasurers of the U.S. and Canada and the Government Finance Officers Association (GFOA) best practices. El Perez said the updates will keep the city “in line with the GFOA…investment policy best practices.”
Councilman Rafael Pinedo moved to approve the ordinance on first reading; Councilwoman Nicole Reynoso seconded. The roll call vote recorded yes from Pinedo, Reynoso, Vice Mayor Maureen Porras and Mayor Christie Fraga; one member (Councilmember Ignacio) was absent. The motion passed.
The ordinance will proceed to the council’s next statutory step for final adoption; the finance director said the department will continue its annual review of the policy and implement any future modifications as required.
No members of the public spoke on the item during the hearing.
