The City of Lexington Investment Policy was adopted by the Lexington City Council on January 12, 2011. The purpose of the policy is to set forth the investment and operational guidelines for the management of public funds of the City of Lexington. The Policy is designed to ensure the prudent management of public funds, the availability of operating and capital funds when needed, and a competitive return on investments. The City's investment program is operated in accordance with federal, state and other legal requirements, including North Carolina General Statute 159-30. The City's investments comply with the crucial goals in the management of public funds, which is Safety, Liquidity and Yield in that prioritized order.
In accordance with the City of Lexington Investment Policy, the Finance Department discloses key investment portfolio information a minimum of semi-annually, or as requested, to City Council. This disclosure includes the most recent investment portfolio listing and the current market rate of commercial and agency paper holdings. The Finance Department routinely monitors market rate information to ensure the value and price volatility of City held commercial and federal agency paper does not show signs of detrimental decline in value. The most recent semi-annual Investment Portfolio report is now available for download.
The graph below illustrates the City of Lexington's current investments by type as of June 30, 2017.
As a prerequisite to conducting investment business with the City of Lexington, each investment and/or financial firm is asked to sign and submit a Investment Trading Relationship Agreement and Broker/Dealer Questionnaire. For inquiries related to the City of Lexington's Investment Policy, Investment Trading Relationship Agreement or Broker/Dealer Questionnaire, please contact the Director of Finance.