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Casper officials outline plan to allow limited equity investing for city funds
Summary
City Treasurer Jill presented a proposed update to Casper's investment policy that would allow the city to invest a capped share of unobligated funds in equities using a city-directed portfolio manager, rather than the state-run pool.
City Treasurer Jill said the city is proposing changes to its investment policy to permit limited equity investing after Wyoming voters approved Amendment A in 2022 and the Legislature later enacted implementing language (Senate File 145).
The treasurer told council the state created two paths: a state-run pool (referred to in discussion as YOStar3) limited to an S&P 500 index fund with a $5 million initial minimum, a five-year lock-up and $1 million withdrawal increments thereafter; and a direct-investment option permitting local governments to use their own portfolio manager to buy SEC-registered mutual funds or ETFs. "The direct investing is available once we get the investment policy approved by the Council," Jill said.
Casper staff proposed calculating "unobligated funds" once a year, using…
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