City approves investment policy
The Amarillo City Council has approved the 2020 Investment Policy, with officials noting the policy is updated annually and authorized in compliance with the Public Funds Investment Act.
"Of course, as you know, the city handles quite a bit of public funds throughout the year," Debbie Reid, the city's director of Finance, said. "Texas is great in that it holds government entities to a higher standard when we're dealing with public funds, which is very important to our citizens."
Per Reid's correspondence to the city council regarding the 2020 Investment Policy, the city's investment objectives are to preserve capital, provide liquidity and optimize earnings within the constraints of the first two objectives.