Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Policy topic
No spam. Unsubscribe anytime.
Brazos River Authority board updates investment policy to add NCUSIF, revise officer titles
Summary
Directors adopted a minor update to the BRA investment policy to reflect changed job titles and add the National Credit Union Share Insurance Fund as an eligible deposit guarantor.
The Brazos River Authority Board of Directors on Jan. 27 adopted an updated investment policy that revises designated investment officer titles and adds the National Credit Union Share Insurance Fund (NCUSIF) as an entity that may insure or guarantee deposits.
Michelle Giroir, BRA chief financial officer, said the authority works with Valley View Consulting as its investment manager and that the policy requires annual review. The two changes presented were updates to the names of designated investment officers (for example controller and cash-and-debt manager) and adding NCUSIF alongside the Federal Deposit Insurance Corporation as an entity that can guarantee deposits for eligible institutions.
The resolution approving the investment policy, the investment strategy statement, broker-dealer list and approved training sources was adopted by roll call. The board instructed staff to publish the revised adopted date for the policy.
The adoption is procedural and does not change investment strategy beyond the enumerated administrative updates; staff said they were available to answer questions but none were raised during the meeting.
