Docket Item 5

Staff Report & Agenda Item Details

5. Discuss submittal of Investment Policy to Government Treasurers Organization of Texas, related fees and potential membership and take appropriate action. Mr. Wilson stated that the Government Treasurers Organization (“GTO”) membership fee is $75 a year per member. He said that the GTO is a third party that reviews the District’s Investment Policy to verify that it is in compliance with Public Funds Investment Act (“PFIA”) and make any recommendations. He said that the review period runs from March 2 to March 1 of the following year. Director Higgins said that submitting the Investment Policy to the GTO for review is an effort for improvements instead of deficiency. He said that he will circulate the website hyperlink among the Board. Discussion ensued. 306957398.1 Upon motion by Director Higgins, seconded by Director Maxwell, after full discussion and the question being put to the Board, the motion passed with majority vote, with one director abstaining, to approve submittal of the District’s Investment Policy to the GTO and to register one director, the District’s treasurer, as a member of the GTO.