SUBJECT: A RESOLUTION OF THE BOARD OF TRUSTEES OF THE TOWN OF ERIE, COLORADO AUTHORIZING THE TOWN OF ERIE TO JOIN COLORADO STATE INVESTMENT POOL; AND SETTING FORTH DETAILS IN RELATION THERETO.
DEPARTMENT: Finance
PRESENTER: Steve Felten
FISCAL INFORMATION:
Cost as Recommended: n/a
Balance Available: n/a
Budget Line Item Number: n/a
New Appropriation Required: n/a
STAFF RECOMMENDATION: Staff recommends approval of resolution.
SUMMARY AND BACKGROUND OF SUBJECT MATTER: In review of the Town’s investments it has been determined by staff and the Town’s financial advisors that the Town’s investments need more diversification. Therefore, staff and the Town’s financial advisors are recommending participating in the Colorado State Investment Pool (CSIP).
Per State Statute participates must get approval from their governing board.
ATTACHMENTS: Resolution