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City investment policy earns certification

Post Date:02/08/2019

The City of San Angelo’s investment policy has earned the Certificate of Distinction from the Government Treasurers’ Organization of Texas after meeting all 26 of the association’s criteria.

The policy guides the City’s financial investments in an effort to maximize returns while minimizing risk to the public funds involved. Quarterly investment reports are posted on the City’s website at cosatx.us/finance. Included in the GTOT’s criteria is:

  • A listing of the scope of the funds the policy covers.
  • An emphasis on safety of the principal, liquidity and yield.
  • Training for investment officers.
  • Lists of suitable and prohibited investments.
  • Investment strategies.
  • Internal controls and a review by an independent auditor.

The GTOT deemed the City’s policy “excellent.” The certification extends through January 2021.

“Our goal is to invest smartly so the principal is always working in our taxpayers’ favor,” Finance Director Tina Dierschke said. “At the same time, we diligently protect those public dollars so they remain available to serve our citizens.”

The Government Treasurers’ Organization of Texas is a state association that promotes the educational and professional development of those who perform cash and debt management in governmental organizations.

The Finance Department recently earned the top award from the Government Finance Officers Association of the United States and Canada for its 2017 comprehensive annual financial report from. It was the fifth straight year the Finance Department garnered the honor.

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