ITEM TITLE:
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Consider approving a resolution authorizing an amendment to the City of Lawton Investment Policy.
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INITIATOR: Kristin Huntley, Deputy Finance Director
STAFF INFORMATION SOURCE: Kristin Huntley, Deputy Finance Director
BACKGROUND: Council Policy 4-4 (Investment Policy) establishes an investment committee to review investment transactions and procedures on a quarterly basis. One of the members of this committee is the Financial Services Supervisor, but this position was eliminated in 2017. At its April 24, 2024 meeting, the Investment Committee unanimously voted to replace the Finance Services Supervisor with a Financial Services representative selected by the Finance Director. The effective date of this amendment would be July 1, 2024.
EXHIBIT: Resolution No. 24-_____; Council Policy 4-4 with edits
KEY ISSUES: N/A
FUNDING SOURCE: N/A
STAFF RECOMMENDED COUNCIL ACTION: Approve Resolution No. 24-_____.