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Kodiak Island Borough reviews draft short-term investment policy, eyes broader eligible investments
Summary
Finance Director Dora Cross told the Kodiak Island Borough Assembly on Jan. 30 that the borough’s short-term portfolio is heavily weighted toward federal government agencies and government-sponsored enterprises, and she recommended adopting a short-term investment policy to clarify liquidity and diversification rules.
Finance Director Dora Cross told the Kodiak Island Borough Assembly on Jan. 30 that the borough’s short-term portfolio is heavily weighted toward federal government agencies and government-sponsored enterprises, and she recommended adopting a short-term investment policy to clarify liquidity and diversification rules.
Cross said "91% of them are in US government agencies," and explained that the borough’s current approach prioritizes safety first, liquidity second and return last because the funds include money held for the school district and other entities. She described a laddered approach that staggers maturities to…
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