The Investment Policy of the City of Schertz outlines the processes the City uses to determine and set its investment strategy. Much of the policy is outlined by Section 2256 of the Texas Government Code, called the Public Funds Investment Act (PFIA), which ensures public entities make safe choices as to how they invest.

The top priority regarding investable public funds in both the Act and in the City Policy is the safety of the funds invested. This means low risk investments that can be easily withdrawn in the event the City needs funding. The City of Schertz Investment Policy requires an annual reaffirmation by City Council. On August 11, 2023, the Investment Advisory Committee reviewed and voted to send the policy to council with proposed changes for consideration.

City Staff and the Investment Committee recommend City Council approve the Investment Policy with the following changes to the document attached. Most of the changes are to clean up and clarify sections of the document but do not significantly alter the requirements on the City. One change includes removing the Deputy City Manager, Assistant City Manager, and the Economic Development Director as named investment officers, leaving the City Manager and the Finance Director. The Committee agreed the named investment officer needed to be one designated employee and a back-up. The positions that were removed from this designation are still on the committee, will still review the monthly reports, and still ensure the funds are invested according to policy. The other change is in Section IV - Investment Reporting. Instead of quarterly, reports will now be provided monthly to City Council.

There are no changes in the type of investments or in the strategy.

The red-line copy is attached for review and the clean version is attached to the Resolution.