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Amendments to the Finance Policies Manual
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SUBJECT
recommendation
Adopt Resolution No. 24-32, approving the review and authorize amendments to the Finance Policies Manual within the following sections:
* 1. Fiscal Management Policy
* 2. Fund Balance Policy
* 3. Debt Management Policy
* 4. General Investment Policy
* 5. Investment Policy for the Retiree Healthcare Fund
* 7 Procurement Policy
* Exhibit A. NTMWD Investment Strategy Statement
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PURPOSE
The Public Funds Investment Act (PFIA) of Texas requires the NTMWD Board of Directors strategy to review the investment policy and investment strategy annually. Additionally, amendments to the Finance Policies Manual are needed to reflect best practices, provide clarifications, and make minor updates and corrections throughout.
RECOMMENDATION
The Executive Director and NTMWD staff recommend the Board of Directors amend the Finance Policies Manual and adopt Resolution No. 24-32, approving NTMWD's Finance Policies Manual review and amendments.
Committee:
This item was reviewed with the Finance Committee on June 12, 2024, and with the Policy Committee on September 11, 2024.
DRIVER(S) FOR THIS PROJECT
Strategic Objective:
2.1: Efficient Business Practices
2.3: Rigorous Financial Management
? Regulatory Compliance
? Asset Condition
? Capacity
? Redundancy/Resiliency
? Relocation or External Requests
? Operational Efficiency
? Safety
? Administrative
? Policy
? Other _____________
BACKGROUND
In April 2016, the Board Policies Manual combined many existing Administration and Finance related policies into the Administration and Finance Polices Manual, which was adopted by the Board of Directors. In September 2023, the NTMWD Administration and Finance Policies Manual was split into the NTMWD Finance Policies Manual and the Administration Policies Manual. The Finance Policies Manual amend...
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