City Council

Agenda Request

Agenda Of:

05-19-09

Agenda Request No:

V-E

Initiated By:

Donna Svatek

Treasury Manager

Responsible Department:

Fiscal Services

Presented By:

linda Symank 

director of fiscal services

Department Head:

Linda Symank  

Director of Fiscal Services

 

 

Additional Department. Head (s):

 

Subject / Proceeding:

Amend Designation of Investment Officers

Approve Resolution 09-18

Exhibits:

Resolution 09-18

Clearances

Approval

Legal:

Joe Morris

City Attorney  

Executive Director:

n/a

Purchasing:

n/a

Asst. City Manager:

N/A

Budget:

n/a

 City Manager:

Allen Bogard

Budget

Expenditure Required:  $

n/a

Amount Budgeted/Reallocation:  $

n/a

Additional Appropriation:  $

n/a

Recommended Action

Staff requests that the City Council approve resolution 09-18 designating investment officers for the City.

Executive Summary

In accordance with the City’s Investment Policy, the City’s Investment Officers are approved by the City Council.  Investment Officers are responsible for the daily operation of our investment program under the direction of the Director of Fiscal Services.  The City designates three investment officers to ensure there is always adequate staffing available for approval of investment transactions.  All investment transactions require the approval of two investment officers.  With the recent reorganization, we are requesting approval of Alka Shah, Accounting Manager as our third investment officer to replace Jennifer Brown who is now the Budget and Research Director.

 

Designated investment officers are required by the Public Funds Investment Act (PFIA) to receive ten (10) hours of investment training within twelve (12) months of assuming investment duties and then ten (10) hours every two years.  Alka Shah is scheduled for investment training the first week of June.  

 

Exhibits

 

 

RESOLUTION NO. 09-18

 

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SUGAR LAND, TEXAS, DESIGNATING INVESTMENT OFFICERS.         

 

 

BE IT RESOLVED BY THE CITY COUNCIL

OF THE CITY OF SUGAR LAND, TEXAS:

 

            Section 1.  That Linda Symank, Donna Svatek, and Alka Shah are designated as the City's investment officers as required by Chapter 2256 of the Government Code, as amended.

 

            Section 2.  That Resolution No. 08-08 is repealed.

 

 

            APPROVED on   _______________________________, 2009.

 

           

                                                                                                            _________________________

                                                                                                            James A. Thompson, Mayor

 

 

ATTEST:

 

 

 

_____________________________

Glenda Gundermann, City Secretary

 

Reviewed for Legal Compliance: