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Committee forwards updated investment policy to Village Board, votes to recommend approval
Summary
Committee reviewed an updated investment policy (title change to 'finance director' and bank preference updated), voted to forward the revised policy to the Village Board with retroactive application to January 1, and approved the recommendation by voice vote.
The Finance Advisory Enhancement Committee reviewed revisions to the Village investment policy that principally rename the responsible officer from 'code of treasurer' to 'finance director' and update the Village's preferred banking institution.
A Committee member moved to recommend approval of the updated policy to the Village Board, with retroactive application to Jan. 1 of the current year; the motion was seconded and approved on a voice vote.
Why this matters: The revision clarifies administrative responsibility for investments and aligns institutional naming in the policy with current staff roles. Committee members indicated the changes are primarily clerical and procedural but agreed they should proceed to the Village Board for formal adoption.
Next steps: The Committee will place the recommended policy on the Village Board agenda for action. No additional substantive changes were requested during the meeting.
