§ 2-251. Scope.

Latest version.

This investment policy applies to all funds of the city as accounted for in the city's general ledger system and disclosed in the city's comprehensive annual financial report, with the exception of the Laredo Firefighters Retirement System. The policy applies to all funds including but not limited to operating funds and proceeds from bond issues. The city's funds types include:
• General fund;

• Special revenue funds;

• Capital projects funds;

• Enterprise funds, including debt service reserves;

• Trust and agency funds;

• Debt service funds;

• Any new fund created by the city, unless specifically exempted from this policy by the city council or by law.

Pooling of funds. Except for cash in certain restricted funds, the city will consolidate cash balances from all funds to optimize investment earnings. Investment income will be allocated to the various funds based on their respective participation and in accordance with generally accepted accounting principles.

(Ord. No. 2016-O-090 , § 1, 8-3-16)

                    
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