Investment Policies

Introduction

Every city and county has an investment policy.  Even if your finance department has not consciously developed and had it adopted by the city council, any jurisdiction that has investments has an ad hoc policy, which is the result of the individual investment decisions made in the past.  The investment instruments that you currently hold have certain maturities, yields, liquidities, safety, etc.   However, they may not be what your jurisdiction would choose if it looked at the overall picture. Having an investment policy is not only a good financial practice, it also provides protection for elected officials and staff by spelling out goals and responsibilities.

Background Information

• An Elected Official's Guide: Investing, 2nd edition by Sofia Anastopoulos. Chicago: Government Finance Officers Association, 2007 Library Loan Request Form
• An Introduction to Broker-Dealers for State and Local Governments, 2nd edition by by Sofia Anastopoulos. Chicago: Government Finance Officers Association, 2008 Library Loan Request Form. Includes Broker-Dealer Request for Information/Questionnaire and Sample Broker-Dealer/Financial Institution Certification.
• An Introduction to Investment Advisers for State and Local Governments by Sofia Anastopoulos. Chicago: Government Finance Officers Association, 2007 Library Loan Request Form
• Eligible Investments for Public Funds in the State of Washington ()
• "Investment Policies" in Investing Public Funds, 2nd edition by Girard Miller. Chicago: Government Finance Officers Association, 1998 Library Loan Request Form
• Selection and On-Going Review of Investment Advisors for Non-Pension Fund Investment Portfolios (2003, 2007, and 2009) (TIM) () GFOA Recommended Practice (2009)
• Creating an Investment Policy () GFOA Recommended Practice (2010)
• Establishing a Policy for Repurchase Agreements () GFOA Recommended Practice (2003, 2006, 2008 and 2010)
• Using Safekeeping and Third-Party Custodian Services () GFOA Recommended Practice (2010)
• Establishing a Policy for Reverse Repurchase Agreements () GFOA Advisory (2010)

Investment Policies

Note: We are in the process of getting newer city and county investment policies. Please send us yours.

• Bellevue Investment Policy, December 2010 ()
• Benton County Investment Policy, May 2010 ()
• Clallam County Investment Policy, June 2003()
• Clark County Investment Policy, January 2008 ()
• Covington Investment Policy, October 2008 ()
• Duvall Investment Policy, March 2001
  WMTA Review Committee Checklist ()
• Kenmore Investment Policy, June 2001
  WMTA Review Committee Checklist ()
• Kirkland Investment Policy, January 2010 ()
• Lynnwood Investment Policy, April 2009 (
• Marcus Investment Policy, June 2002()
  WMTA Review Committee Checklist ()
• Olympia Investment Policy, October 2006 ()
• Othello Investment Policy, January 2003 (). Includes investment procedures and broker-dealer questionnaire in appendices.
• Port Angeles Investment Policy, August 2001
  WMTA Review Committee Checklist ()
• Poulsbo Investment Policy, July 2008 ()
  
• Redmond Investment Policy, October 2008 ()
  
• Seattle Statement of Investment Policy, 1999
• Shoreline Investment Policy, April 2003 ()
  
• Spokane Investment Policy, February 2009 ()
• Spokane County Treasurer's Investment Policy, 2001 ()
  (This policy has also been certified by the Association of Public Treasurers' of the United States and Canada)
• Whatcom County Treasurer's Office Investment Policy, 2000()
• Whitman County Investment Policy, Revised 2003
  WMTA Review Committee Checklist ()
• Woodinville Investment Policy, 2001
  WMTA Review Committee Checklist ()
• Yakima County Investment Policy, October 2009 ()
• GFOA Sample Investment Policy
• APT US&C Investment Policy Certification Program, January 2005, a publication including:
  1. Application Form for a Written Investment Policy Certification;  
  2. Model Investment Policy;  
  3. Glossary of terms;  
  4. Appendix: Guidelines for an Investment Procedures Manual.
• WMTA Investment Policy Certification Program, 1999. Includes model investment policy

Related MRSC Resources
MRSC Index – Interest earnings and investment, investment policies