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Commission approves rewritten investment policy, adds collateralization and education requirements
Summary
The fiscal committee approved a wholesale rewrite of the city's investment policy, creating an ad hoc investment committee, shortening maturity limits, emphasizing collateralization of deposits and adding continuing‑education expectations for staff.
The Grand Rapids Fiscal Committee voted June 10 to approve a rewritten statement of investment policy and procedures, a document staff said was overdue for a full rewrite after incremental changes since 2015.
Levi Bolt, the city’s investment officer, told commissioners the new policy creates an ad‑hoc investment committee to support…
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