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File #: 18-1209    Version: 1
Type: Agenda Item Status: Adopted
File created: 11/8/2018 In control: Finance Committee
On agenda: 11/15/2018 Final action: 11/15/2018
Title: Revised Investment Policy for the Metropolitan Water Reclamation District of Greater Chicago dated as of November 15, 2018
Attachments: 1. Changes to Policy 2018.pdf, 2. Redlined Investment Policy 2018.pdf, 3. District Investment Policy 2018.pdf

TRANSMITTAL LETTER FOR BOARD MEETING OF NOVEMBER 15, 2018

 

COMMITTEE ON FINANCE

 

Mr. John P. Murray, Acting Executive Director

 

Title

Revised Investment Policy for the Metropolitan Water Reclamation District of Greater Chicago dated as of November 15, 2018

Body

 

Dear Sir:

 

Attached for the Board’s consideration and adoption is the revised Investment Policy for the Metropolitan Water Reclamation District of Greater Chicago.

 

The revised Policy institutes recommendations from Treasury staff in response to a recent change to the Public Funds Investment Act (30 ILCS 235) adding a Corporate Note investment option to authorized investments, adding additional interest bearing investment options with Local Government Investment Pools, updating for a change to GASB 72 to define the method to calculate market value for investments in the District financial statements, and various clerical updates.

 

A summary of changes is attached.

 

It is recommended that the revised Investment Policy be adopted by the Board of Commissioners as the official Investment Policy of the District for the management and investment of District funds.

 

Requested, Mary Ann Boyle, Treasurer, MAB:st

Respectfully Submitted, Frank Avila, Chairman Committee on Finance

Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for November 15, 2018

 

Attachments