[HISTORY: Adopted by the Town Board of the Town of Marbletown 7-9-1986.
Amendments noted where applicable.]
The Town Supervisor, as chief fiscal officer, is responsible for the
investment of funds received and not expended by the Town of Marbletown. In
his/her absence, the deputy or appointed supervisor shall be responsible.
The following guidelines will be adhered to:
A.Â
Town funds will be invested in either savings or certificates
of deposit in designated financial institutions approved by the Town Board.
The Town Board will renew said authorization annually at the organizational
meeting. If a depository has not previously been approved, the Town Board
must do so prior to any transaction with the institution. Depositories will
conform to those outlined by the office of the State Comptroller publication
"Cash Management and Investment Policies and Procedures For Use By Local Officials."
B.Â
Deposits in excess of insured limits of the financial
institution will be collateralized and evidence of such maintained on file.
C.Â
Safety of funds is the priority with liquidity considered
in order to maintain current operations. Yield will be maximized to the extent
practical while conforming to safety and liquidity.
D.Â
Investments other than savings accounts or certificates
of deposit must be authorized by the Town Board and conform to the guidelines
of the State Comptroller.
