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Committee recommends updated investment policy to keep expanded powers
Summary
The committee recommended City Council approve a revised investment and cash management policy required for the city to retain expanded investment powers under Kansas law; staff will include the required compliance certification (KSA 12-1677b).
The committee recommended to the full City Council on Aug. 19 that Overland Park adopt an updated investment and cash management policy required to maintain expanded investment powers under state statute. Staff told the committee the proposed policy includes date updates and no substantial changes to permissible instruments.
Gina (speaker 4) explained that Kansas law and the city's policy require conservative investments that prioritize preservation of principal and matching maturities to cash-flow needs. The motion to recommend council approval, which included authorization for staff to include required compliance documentation under KSA 12-1677b, passed unanimously at the committee level.
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