Title
Consideration of and action on the annual review and an ordinance adopting the City's Investment Policy.
Body
Summary: In compliance with the Texas Public Funds Investment Act, Government Code Ch. 2256 as amended (the “Act”), the City has adopted an Investment Policy, which is Chapter 2, Administration, Article VII (Finance), Division 2 (Investment Policy), Section 2-274 Reporting, of the Code of Ordinances of the City of Deer Park. The Act also requires that the City Council, not less than annually, adopt a written instrument stating that it has reviewed the Investment Policy and investment strategies. The written instrument must record any changes made to the policy or strategies.
The City’s Investment Policy was last reviewed and updated on August 15, 2023. The policy received re-certification from the Government Treasurer’s Organization of Texas (“GTOT”) in December 2023, and that certification was valid for two years to December 31, 2025.
The Texas Legislature did not make and amendments to the Act during the 2023 regular legislative session. Upon review of the City’s current policy by the Director of Finance and the City’s investment advisors, Valley View Consulting, L.L.C., no revisions to the policy are suggested at this time.
Authorized Broker/Dealers:
The Investment Policy includes the list of broker/dealers authorized to engage in investment transactions with the City. The current list includes the following:
Southstate | Duncan-Williams
FHN Financial
Hilltop Securities
Multi-Bank Securities, Inc.
Wells Fargo Securities, LLC.
At the Finance Committee meeting on August 20, 2025, the Committee reviewed and discussed the list of authorized broker/dealers and did not make any changes to the current list.
Fiscal/Budgetary Impact:
N/A.
Recommended action
Review and approve an ordinance adopting the Investment Policy.