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Finance director outlines conservative investment approach; council asks about active management options
Summary
Finance Director Chelsea Walls reviewed the city’s investment practices, noting primary use of the Local Government Investment Pool and two 12‑month certificates of deposit; a council member asked about higher‑yield asset management options and Walls noted tradeoffs in fees and liquidity.
Chelsea Walls, the city’s finance director, briefed the Spokane Valley City Council on May 6 about the city’s investment policy and current holdings. Walls said the city uses the Washington Local Government Investment Pool (LGIP) for most funds and maintains two 12‑month certificates of deposit at qualified public depositaries.
Policy and objectives: Walls cited the city’s Banking Authority resolution (Resolution 2042, Banking Authority) that designates…
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