The Texas Public Funds Investment Act and the City Investment Policy require that City Council review the City's Investment Policy not less than annually and shall evidence by resolution that it has conducted such review. The last action was November 10, 2015.
The Controller's Office is requesting that Council approve a Resolution adopting the Investment Policy for the City of Houston. The policy has been reviewed and approved by the City's Investment Committee (see below) at their meeting on October 27, 2016.
This resolution will also amend Section 9.8 and Section 17.0 footnote (b) to increase the maximum exposure to any one Commercial Paper issuer from 3% to 5%; and increase the maturity date beyond 90 days from 1.5% to 3.5%. This change is requested because Commercial Paper offers higher yields compared to other short term investments available to the City.
Investment Committee Members
Chris Brown Chairperson
Charisse Mosely Deputy City Controller
Han Au Investment Manager
Kelly Dowe Mayor's Appointee
Drew Masterson Private Sector Appointee, Hilltop Securities
Ron Stapleton Private Sector Appointee, Partners Advisors
Suresh Raghavan Private Sector Appointee, Raghavan Financial, Inc.