Page 429 - FortWorthFY22AdoptedBudget

Advisor. In accordance with the Act, the City Council hereby delegates to the
Committee the authority to approve the annual broker/ dealer list and to authorize
organizations to provide the training required under state law. No other decision-
making authority is transferred to the Committee. The Committee will meet
periodically to review the investment portfolio performance, to provide feedback
on the portfolios, and to discuss investment strategies. This Committee will
periodically review this Investment Policy and Strategy and recommend possible
changes to the City Council.

The Committee will be comprised of the Chief Financial Officer/ Director of
Finance, the Finance Department Assistant Directors for Treasury and Accounting,
a representative of the Water Department, the Investment Officer(s), the Investment
Advisor (as applicable), a representative of the Law Department, and other
appropriate persons chosen by the Committee.

D. Investment Advisor
The City may engage the services of a Securities and Exchange Commission (SEC)
registered Investment Advisor (registered under the Investment Advisors Act of
1940) to assist in the management of the investment portfolios in a manner
consistent with the City's objectives and policies. All security transactions will be
approved by the City prior to the Investment Advisor taking action. Approval may
be in the form of a phone call, email, facsimile or other written communication.
The Investment Advisor may not be granted total discretion in the management of
funds.

The Investment Advisor shall make recommendations to the Investment
Committee which support and align the investment vehicles with this policy and
ensure that its support activities are consistent with the City's established policies,
rules and regulations.

VIII. Authorized Financial Institutions, Depositories, and Broker/Dealers

A list of financial institutions, broker/ dealers, and depositories authorized to
provide investment services will be maintained by the Investment Officer(s). All
counter-parties will be selected through a process of due diligence. Due diligence
requires competitive transactions and delivery versus payment settlement.

The City will furnish counter-parties with the City action authorizing the
Investment Officer(s) or Investment Advisor to establish and maintain accounts for
the purpose of purchasing and selling securities authorized under Texas law and
this policy.

Certification

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