[Ord. No. 1766 §§1 — 4, 7-16-2009]
A.
This
Section shall be known as and may be cited as the "Investment Policy
of the City of Woodson Terrace" and shall supersede existing investment
policies of the City where this Section is applicable.
B.
The
following principles shall constitute the basic framework for management
of public funds of the City of Woodson Terrace:
1.
Safety, liquidity and yield in that order shall govern the City's
investments.
3.
The following requirements apply:
a.
On a regular basis the investments of the City shall be revalued
to reflect prevailing market prices.
b.
Investments which are downgraded below the minimum acceptable rating
levels shall be reviewed for possible sale within a reasonable time
period.
c.
Current status and performance of the City's investments shall be
reported regularly to the Board of Aldermen.
C.
The
Model Investment Policy promulgated by the office of the Missouri
State Treasurer on December 3, 1998 along with appendices thereto,
to wit:
1.
Securities, acceptable as collateral to secure deposits; and
2.
"Glossary", as it may be amended, supplemented or adopted from time
to time, shall be the Investment Policy for all operating funds of
the City, subject to compliance with Section 30.950, RSMo., and to
the provisions of Chapters 67 and 110, RSMo., to the extent applicable
to the City of Woodson Terrace.
D.
Notwithstanding
the foregoing, bond issue funds shall be maintained as separate funds
and investments thereof shall be subject to the specific provisions
of the bond issue relating to maintenance and "permitted investment"
of such special funds.
[Ord. No. 1942, 10-19-2017[1]]
A.
This Policy refers to purchases of assets by the City of Woodson
Terrace. The primary objective of this Policy is to minimize the necessary
reporting requirements associated with capital expenditures of the
City of Woodson Terrace, and require solely tracking of assets originally
purchased in excess of five thousand dollars ($5,000.00). This Policy
shall be effective as of July 1, 2017; notwithstanding, the then present
accountant for the City of Woodson Terrace is hereby instructed to
apply this Policy retroactively, to the existing asset capitalization
listing, to remove all assets from the list of original acquisition
costs less than five thousand dollars ($5,000.00).
B.
This Policy shall be reviewed annually by the City's accounting firm
and recommended changes shall be presented to the Board of Aldermen
for consideration from time to time.
[1]
Editor's Note: Ord. No. 1942 also changed the title of this
Article from "Investment Policy" to "Investment Policy And Capital
Expenditure Policy."
