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City finance director recommends no change to Richardson’s investment policy after annual review
Summary
The city’s director of finance reviewed the annual investment policy required by state law, reaffirmed current guidelines and outlined the role of Hilltop Securities as the city’s investment advisor; staff will bring a resolution to the Oct. 20 agenda to reaffirm the policy and add an assistant controller to TEXPOOL signatories.
Todd Gastroff, Director of Finance, briefed the Richardson City Council on the city’s annual investment‑policy review, a requirement under state law. Gastroff said there have been no changes in state law that would require policy updates and staff is not recommending any changes to the current investment policy.
Gastroff explained the city’s investment objectives — safety, liquidity, then…
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