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Council amends city investment policy, transfers approval authority from finance director to council
Summary
Racine aldermen amended the city's investment-policy resolution to replace a clause granting approval authority to the finance director with a requirement that the common council approve changes; the amendment passed unanimously and the amended motion passed 14-0 at the April 14 meeting.
The Racine Common Council on April 14 amended the city's investment-policy resolution to make changes to the investment policy subject to approval by the common council rather than solely by the finance director.
The item, listed as 0235-25 and presented by Alder Horton on behalf of the finance director, initially appeared to grant approval authority to the finance director. Council members questioned a potential conflict…
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