RESOLUTION #04-2003

INVESTMENT POLICY FOR RICHFIELD TOWNSHIP

Offered by: Ms Shano Cica-Mraz

POLICY PURPOSE

The purpose of this policy is to insure that all public funds are prudently managed in accordance with the investment philosophy of the fiscal officer of Richfield Township, as per the Ohio Revised Code, Chapter 135, all other applicable laws and regulations and Senate Bill 81, effective September 27, 1996.

A copy of this policy will be filed with the Auditor of the State of Ohio as required (ORC 125.14 and 135.35), and the Depository Agency for Richfield Township.

INVESTMENT POLICY

The Board of Trustees of Richfield Township shall authorize the elected fiscal officer to make investments of available monies from the funds of the Township in securities authorized by State Law, following a prudent standard. This requires the fiscal officer to exercise the care, skill and experience that a prudent investor would use to manage public funds. These shall include the following investments:

A. Certificates of Deposit;
B. Repurchase agreements in accordance with ORC 135.14, an overnight and within a time not to exceed 30 days (SWEEP account); and
C. The Ohio Subdivision Fund (Star Ohio)

INVESTMENT OBJECTIVES

A. Preservation of principal; and
B. Maintenance of liquidity of assets;

STANDARD OF CONDUCT

Under no circumstances may the fiscal officer invest in a derivative as defined by the Ohio Revised Code, reverse repurchase agreements, nor make investments which cannot be held until the maturity date or leverage of any investment, unless under emergency status. This emergency shall be determined by the Board of Trustees at the time such an emergency arises.

Investments made by the fiscal officer must mature within five (5) years, unless they are matched to a specific obligation or debt of the District.
Resolution #04-2003
Investment Policy for Richfield Township
Page Two

INVESTMENT PURPOSES

To maximize the returns on the Township’s excess cash balances consistent with the safety of those monies and with the desired liquidity of the investment.

Seconded by: Mr David Wyatt

Date
Trustee
Trustee
Trustee
Attest:

_________________________
Township Clerk

Page last updated on: 02/25/2006
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