Hobart City Council adopts expanded investment rules ahead of expected influx of funds

The Hobart City Council voted unanimously on Jan. 21 to expand the city’s investment policy and authorize broader, longer-term public investments ahead of an anticipated influx of funds.

Clerk-Treasurer Longer told the council the City has "consistently invested some funds over the years in minimal amounts for short terms" but that "due to the expected influx of funds the City would like to expand its investments in accordance with State laws for longer terms to maximize the possibilities of investments." The council approved Resolution 2026-05 and adopted Ordinances 2026-01 and 2026-02 by roll-call votes of 6-0.

Ordinance 2026-01 amends the Hobart Municipal Code to set guidelines for permitted investments and governance of those investments; officials said it grants authority and parameters, not a specific dollar amount. The council suspended its rules and proceeded with an emergency second reading so the policy would be in effect before a deposit expected within the week, Ms. Longer said.

Mayor Huddlestun said the city’s goal is to prudently manage funds without shifting costs to residents and to ensure any investment decisions comply with state law. Ordinance 2026-02 implements investment authority consistent with I.C. 5-13-9-5.7, and Resolution 2026-05 memorializes the broader policy permitted by I.C. 5-13-9-5.

The council’s action followed routine financial housekeeping and departmental updates earlier in the meeting. Police Chief Ciszewski provided an overview of 2025 public-safety activity, reporting 26,900 calls for service (a 1% increase over 2024) and a 3% rise in officer-initiated activity.

Next steps: the ordinances are now part of the Hobart Municipal Code; the council and Clerk-Treasurer will apply the new policy parameters when directing investment of city funds.