Cash & Investments Policy Recommendation Finance Committee January 28, 2014
Overview of discussion NC municipal survey Governance NC General Statutes Local Government Commission (LGC) Policy objectives
Other NC Cities Cash & Investments Policy Unit Yes, has formal policyNo formal policy CaryX ConcordX WilmingtonX Charlotte X Wilson X Winston-SalemX GreenvilleX
Governance § NCGS A local government may deposit at interest or invest all or part of the cash balance of any fund. The investment program shall be so managed that investments and deposits can be converted into cash when needed.
Governance LGC Policy Manual for local government cash & investments
Objectives of investment activity Objectives of investment activity
Safety Safety High risk investments are not allowed
Liquidity Liquidity $15 million of approximately $100 million available to pay recurring bills
Yield Yield Challenging in current rate environment
Diversification and local investment Diversification and local investment ($ millions) * At June 30, 2013