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Platte County adopts revised investment policy requiring quarterly reporting
Summary
The county adopted an updated investment policy that clarifies permissible investments, sets diversification and maturity limits, and adds quarterly reporting to the commission as required by state statute.
Platte County commissioners unanimously adopted revisions to the county's investment policy on April 6.
Treasurer Chris Kendall said the 2015 policy had been updated to reflect current practice, expand reporting and control credit and market risks. Kendall noted the policy restricts eligible investments to federal agency securities and other instruments permitted by statute and requires a weighted average maturity of less than three years: "We are at... the weighted average maturity less than 3 years," he said, and added that the county will begin quarterly reporting to the commission.
Kendall asked the commission to authorize the revised policy and the commission approved the update 3-0. Staff said the first quarter report will be provided to commissioners within one to two weeks.
