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How many section(s) does CHAPTER 218, PART IV - INVESTMENT OF LOCAL
GOVERNMENT SURPLUS FUNDS contain?
- 218.403 – Definitions
- 218.407 - Local government investment authority
- 218.415 – Local government investment policies
LOCAL GOVERNMENT INVESTMENT POLICIES
Authorized Investments, Written Policy includes
- SEC Registered Money Market Funds – AAA Rated
- • Authorized Investment Pools – SBA
- • CDs or Savings Accounts from QPDs
- • Direct Obligations of the US Treasury
- • Federal Agencies & Instrumentalities
- • Israel Bonds
- • Registered Investment Company or Trust
- • OTHER
How many investment component are there
and what are they?
- 1)Setting investment objectives
- 2)Implementing internal controls
- 3)Identifying and managing investment assets
- 4)Selecting and purchasing investments
- 6)Investment Policy
- 7)Recording and accounting for investments 8)Monitoring the portfolio
- 9)Developing cash flows
- 10)Performing broker-dealer due diligence
- 11)Evaluating and reporting results
What is an investment policy?
A concise and clear statement of the objectives and parameters formulated by an investor or investment manager for a portfolio of investment securities
What are the general objective of investment?
- Local Consideration
What does AEPA stand for?
- Pooling of funds
What is passive management strategy?
Minimizes the training and labor effort to attain market - average portfolio performance
What are some types of passive investment?
- Managed assets
- Laddered maturities
- Horizon investing
- Rolling T-bills
What is active management investment?
increase portfolio performance by exceeding market average rate of return
What are examples of active investment?
- Money-market arbitrage
- Downgrade investment quality
- Yield curve analysis
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