Membership is five (5)-The purpose of Investment Policy Committee is to establish policy regarding the disposition of City funds. The Committee shall meet at regular intervals with the Investor to review investments holdings, bank relationships and legality and probity of investment activities. The Committee is composed of the Mayor, Investor (City Treasurer), and City Manager. The Mayor shall be Chairman if the Committee and the City Clerk shall be ex-offico clerk thereof. All minutes and reports shall be filed with the City Clerk. The Committee shall meet at such times and such places as the Chairman or majority of the members of the Committee may decide. It shall be the initial policy of the Committee to meet quarterly, but under no circumstances shall the Committee fail to meet at least once each year. The investor shall report to the Committee on a regular basis, such information as the Committee requires in fulfilling its review function. At its discretion the Committee may require additional information or clarification from the Investor either orally or in writing. The reports to the Investment Committee shall consist of a summary of cash and investments by depository, a listing of short-term investments, and a detailed report of the investments held in the custodial account. A separate report shall be prepared for each calendar month as of the last day of that month. The Committee meets once annually at a designated time and location as stated in a meeting notice, 300 N. Main St., Hopewell, VA.
|John M. Altman, City Manager||01/31/19|
|Jasmine Gore, Mayor||01/31/22|
|Joan E. Gosier, Treasurer||06/30/19|
|Debra Reason, Commissioner of Revenue||01/31/19|
|Michael Terry, Finance Director||01/31/19|
|Vacant, City Clerk|
STANDING COMMITTEE OF COUNCIL INVESTMENT POLICY COMMITTEE