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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AN UPDATED INVESTMENT POLICY FOR THE CITY OF POMPANO BEACH; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
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(Staff Contact: Allison Feurtado)
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Summary Explanation/Background:
The proposed 2026 Investment Policy changes modernizes and strengthens the City’s investment framework while maintaining its core objectives of safety, liquidity, and return. The update incorporates current Florida statutory requirements, enhances risk management and diversification standards, updates performance benchmarks, strengthens governance and due diligence requirements, and formalizes repurchase agreement and investment pool review procedures. The policy also expands portfolio flexibility by increasing allowable allocations to Corporate Notes (25% to 35%), Commercial Paper (25% to 35%), Asset-Backed Securities (10% to 25%), and Local Government Investment Pools (25% to 50%), aligning the City’s investment practices with current industry standards and peer local governments while preserving a prudent, conservative investment approach.
Proposed changes were made in collaboration with PFM Asset Management, the City’s investment advisors.
Origin of request for this action: Finance Department
Fiscal impact and source of funding: N/A
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