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Finance Committee clears minor changes to investment policy, reviews $4.29B portfolio
Summary
The Finance Committee on Nov. 4 reviewed and signaled support for minor amendments to the city—s investment policy and received the third‑quarter investment report showing an operating portfolio of $4.29 billion and quarterly earnings of $47.1 million.
The Finance Committee reviewed the city—s annual investment policy and third‑quarter investment report on Nov. 4 and indicated support for minor technical changes that would extend the permissible maximum maturity for commercial paper from 270 days to 365 days.
Jenny Kurzman, assistant director of treasury, reminded the committee that the annual adoption and review of the written investment policy is required by the Texas Public Funds Investment Act (Texas Government Code chapter 2256).…
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