CC MEETING: November 18, 2025
DATE: November 11, 2025
TO: Erin Rinehart, City Manager
FROM: Diana K. Vaughn, Chief Financial Officer
Chrystal K. Davis, Assistant City Manager
Title
Consider A Resolution Adopting The Investment Policy As A Fulfillment Of The Public Funds Investment Act, Sections 2256.005 and 2256.025.
Body
BACKGROUND:
The City’s investment policy was last amended by Resolution on November 19, 2024. According to Texas Government Code, Chapter No. 2256 Public Funds Investment Act (PFIA), the governing body of an investing entity subject to this chapter or the designated investment committee of the entity shall review its investment policy and investment strategies, and its list of qualified brokers authorized to engage in investment transactions with the entity at least annually. All changes were reviewed and approved by the City Council Audit, Finance, and Governance Committee on November 11, 2025, and are as follows:
• Revised Section VII, Authorized Brokers/Dealers and Financial Institutions, Section D.5., to replace “agreeing to comply” with “put in place controls” to comply with the City’s investment policy. This change, recommended by the Government Treasurers’ Organization of Texas (GTOT) policy review, strengthens the language and reflects current practice.
• Updated Appendix A-Broker/Dealers and Financial Institutions Authorized To Do Business with City of Carrollton:
o Added Oppenheimer Co. Inc. This broker submitted the required documentation to the City in accordance with PFIA and the City of Carrollton Investment Policy.
o Added Siebert Williams Shank & Co., LLC. This broker submitted the required documentation to the City in accordance with PFIA and the City of Carrollton Investment Policy.
o Deleted Wells Fargo. This dealer was not competitive during 2025.
o Deleted Alamo Capital. This dealer did not submit documentation.
FINANCIAL IMPLICATIONS:
Investment income is part of the city’s revenue budget and is directly impacted by financial market changes and investment strategies included in the investment policy. The primary objective of this policy is the preservation and safety of the overall portfolio’s principal.
IMPACT ON COMMUNITY SUSTAINABILITY:
The Investment Policy helps support the City’s financial position and sustainability.
STAFF RECOMMENDATION/ACTION DESIRED:
Staff recommends approval of a resolution adopting the Investment Policy as fulfillment of the Public Investment Act Sections 2256.005 and 2256.025.