1. Cash & Investments Policy Recommendation Finance Committee January 28, 2014

2. Overview of discussion NC municipal survey Governance NC General Statutes Local Government Commission (LGC) Policy objectives

3. Other NC Cities Cash & Investments Policy Unit Yes, has formal policyNo formal policy CaryX ConcordX WilmingtonX Charlotte X Wilson X Winston-SalemX GreenvilleX

4. Governance § NCGS 159-30 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.

5. Governance LGC Policy Manual for local government cash & investments

6. Objectives of investment activity Objectives of investment activity

7. Safety Safety High risk investments are not allowed

8. Liquidity Liquidity $15 million of approximately $100 million available to pay recurring bills

9. Yield Yield Challenging in current rate environment

10. Diversification and local investment Diversification and local investment ($ millions) * At June 30, 2013