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JOHNSTOWN The city’s internal control officer is urging more immediate action by the Common Council on a city investment policy adopted over a year and a half ago.
In his Dec. 22 report to the council, ICO Darryl Purinton said the policy needs review by the council. He said action by the policy involving investment of city finances only goes so far through City Treasurer Michael Gifford.
“I recommend that the Common Council address the implementation of the policy,” Purinton stated in his report. “The city treasurer has implemented as much of the policy as possible given the limitation on his authority.”