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Wicomico County moves to modernize investment policy after 1998 update; council asks questions on liquidity and risk
Summary
Finance officials presented a modernized investment policy draft on Feb. 18 to broaden permissible instruments and enable limited, professionally advised longer-term investments while preserving liquidity.
Wicomico County finance officials on Feb. 18 presented a proposed overhaul of the county's investment policy, which has not been substantially updated since 1998. The draft policy updates allowed instruments, introduces diversification guidance consistent with Government Finance Officers Association (GFOA) recommendations and enables staff to work with an advisory firm for portfolio construction and custody services.
Deputy Finance Director…
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