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Findlay council member proposes overhaul of 30-year investment policy; auditor urges caution on liquidity and compliance
Summary
Council member Dan DeArmond proposed hiring an investment advisor, expanding maximum maturity to five years and improving reporting; the auditor emphasized Ohio law priorities, liquidity, and the need for full cash-flow and legal review before changes.
Council member Dan DeArmond presented a draft overhaul of Findlay's 30-year investment policy at the finance committee meeting on April 12, proposing increased transparency and the retention of an outside investment advisor to manage and report on the city's portfolio.
DeArmond said the policy needs improvement in six areas: communication, transparency, reporting, accountability, strategy and continuity. He proposed that the city retain an investment advisor, that the auditor seek competitive proposals within three…
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