The city of Bastrop is establishing an Investment Committee to provide “professional oversight and prudent management” of its public funds, according to city documents.
The details
During a Dec. 9 meeting, Bastrop Finance Director Judy Sandroussi told Bastrop City Council the Investment Committee will be responsible for the following:
- Meeting on a quarterly basis to review portfolio performance, risk exposures and compliance
- Identifying, assessing and monitoring risks, such as credit risk, market risk, liquidity risk and concentration risk
- Monitoring, reviewing and making recommendations regarding investment policy to Bastrop City Council
- Confirming compliance with state laws, local ordinances and internal procedures
- Approving and denying investment transactions when required
- Reviewing quarterly investment reports before submission to Bastrop City Council
The Investment Committee will include:
- Bastrop City Manager Sylvia Carrillo-Trevino (voting member)
- Bastrop Assistant City Manager Andres Rosales (voting member)
- Sandroussi (voting member)
- Place 1 council member Perry Lowe (voting member)
- Place 4 council member Kevin Plunkett (voting member)
- Investment consultant firm Meeder Public Funds (non-voting advisor)
- Bastrop’s city attorney (non-voting advisor)
