Page 414 - FY 2026-2027 Adopted Budget Book

CITY OF BEDFORD

Policy/Administrative Procedure & Directive

REFERENCE NUMBER:
SECTION: Finance
9.01

INITIAL EFFECTIVE DATE:
10/01/2003
SUBJECT: INVESTMENT POLICY
LAST REVISION DATE:
10/28 /2025

It is the policy of the City of Bedford, Texas (the “City”), which includes the City of Bedford
Street Improvement Economic Development Corporation (the “Corporation”), that after
allowing for anticipated cash requirements and giving due consideration to safety, liquidity
and yield, all available funds will be invested in conformance with the Investment Policy which
has been developed to conform to the State of Texas Public Funds Investment Act as
amended (the “PFIA” or the “Act”). Throughout this Investment Policy, the City and
Corporation shall be referred to as “Bedford.”

In addition, applicable recommended practices published by the Government Finance Officers
Association (GFOA) have been considered to ensure that Bedford’s investment activities are
conducted within the framework of sound fiscal policy.

I. Scope

This Policy applies to all financial assets of Bedford and serves to satisfy the statutory
requirements of the PFIA to define and approve a formal investment policy. These funds are
accounted for in Bedford’s Annual Comprehensive Financial Report and include:

• General Fund
• Enterprise Funds
• Special Revenue Funds
• Debt Service Funds - including Interest & Sinking Funds & Reserve Funds
• Capital Improvement Funds
• Street Improvement Economic Development Corporation Fund
• Other funds established from time to time

Except for cash in certain restricted and special funds, Bedford may consolidate cash and
investment balances to ease cash management operations and maximize investment earnings.
Investment income will be allocated to the various funds based on their respective
participation and in accordance with generally accepted accounting principles.

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