SUBJECT:
title
Approval of a resolution adopting revisions to the CapMetro Investment Policy.
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FISCAL IMPACT:
This action has no fiscal impact.
STRATEGIC PLAN:
Strategic Goal Alignment:
? 1. Customer ? 2. Community
? 3. Workforce ? 4. Organizational Effectiveness
Strategic Objectives:
? 1.1 Safe & Reliable Service ?1.2 High Quality Customer Experience ? 1.3 Accessible System
? 2.1 Support Sustainable Regional Growth ? 2.2 Become a Carbon Neutral Agency
? 2.3 Responsive to Community and Customer Needs ? 2.4 Regional Leader in Transit Planning
? 3.1 Diversity of Staff ? 3.2 Employer of Choice ? 3.3 Expand Highly Skilled Workforce
? 4.1 Fiscally Responsible and Transparent ? 4.2 Culture of Safety ? 4.3 State of Good Repair
EXPLANATION OF STRATEGIC ALIGNMENT: Annual review and approval of this policy is required to comply with the Texas Public Funds Investment Act. The policy was last reviewed in 2022.
BUSINESS CASE: CapMetro is required to invest funds in accordance with the Public Funds Investment Act. The governing body (the CapMetro Board) of an investing entity (CapMetro) is required to review its investment policy and investment strategies no less than annually. Per the Public Funds Investment Act, the CapMetro Board shall adopt a written instrument stating that it has reviewed the investment policy and investment strategies and that the written instrument so adopted shall record any changes made to either the investment policy or investment strategies.
COMMITTEE RECOMMENDATION: This item was presented and recommended for approval by the Finance, Audit and Administration Committee on October 11, 2023.
EXECUTIVE SUMMARY: The proposed policy was reviewed by PFM Asset Management LLC, under contract as CapMetro's investment advisory firm. Attached is an updated policy along with a red line copy of the changes to CapMetro's Investment Po...
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