HomeMy WebLinkAbout2022-002 Ordinance adopting City of Yakima Investment Policy 3-700ORDINANCE NO. 2022-002
AN ORDINANCE to formally adopt the City of Yakima Investment Policy Number
3-700 as required by RCW 35.39.034.
WHEREAS, it is in the City's best interest to invest public funds in a manner which
will provide maximum security with the highest investment return while meeting the daily
cash flow demands of the City and conforming to all state and local statutes governing the
investment of public funds; and,
WHEREAS, Government Finance Officers Association (GFOA) recommends that
all governments establish a comprehensive written investment policy, which should be
adopted by the governing body; and,
WHEREAS, it is in the City's best interest to formalize its investment policies in
writing; therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That the City of Yakima hereby adopts the City of Yakima Investment
Policy Number 3-700, attached hereto and incorporated herein.
Section 2. This ordinance shall take effect immediately upon its passage, approval
and publication as provided by law and by the City Charter.
PASSED BY THE CITY COUNCIL, signed and approved this 1st day of February,
2022,
Janice Deccio, Mayor
ATTEST:
Publication Date: February 4, 2022
Effective Date: February 4, 2022
1
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEM ENT
Item No. 6.J.
For Meeting of: February 1, 2022
ITEM TITLE: Ordinance adopting City of Yakima Investment Policy 3-700
SUBMITTED BY: Jennifer Ferrer -Santa Ines, Director of Finance and Budget
SUMMARY EXPLANATION:
On March 5, 2019, Finance brought to Council for consideration, a revised Investment Policy,
which was approved by Council at the meeting. The policy also received a Certification of
Excellence from the Washington Public Treasurer's Association on April 10, 2019. This item is
before you today to formally adopt the City of Yakima Investment Policy Number 3-700 as
required by RCW 35.39.034.
ITEM BUDGETED: NA
STRATEGIC PRIORITY: Public Trust and Accountability
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
Pass Ordinance
ATTACHMENTS:
Description Upload Date
0 Ordinance 1/20/2022
CI Memo 1/20/2022
Type
Ordinance
Corer Memo