Gainesville Logo
 
Share to Facebook Share to Twitter Bookmark and Share
File #: 200035.    Version: 1 Name:
Type: Staff Recommendation Status: Passed
File created: 6/4/2020 In control: City Commission
On agenda: 6/18/2020 Final action: 6/18/2020
Title: 2020 Investment Policy Statement for the City of Gainesville Evergreen Cemetery Trust Fund (B) This item involves the City of Gainesville Evergreen Cemetery Trust Fund Investment Policy Statement (IPS)
Attachments: 1. 200035_Evergreen Cemetery Trust Investment Policy_202000618.pdf

Title

2020 Investment Policy Statement for the City of Gainesville Evergreen Cemetery Trust Fund (B)

 

This item involves the City of Gainesville Evergreen Cemetery Trust Fund Investment Policy Statement (IPS)

 

Explanation

Section 7-11of the Code of Ordinances establishes the City’s Evergreen Cemetery Trust Fund, determines the Trust Fund’s finances, and authorizes the City Commission to invest the Trust as they deem advisable. The IPS was developed in accordance with the prudent person rule, with the objective of seeking reasonable long term investment returns while preserving capital. This IPS is similar in structure to the investment policies for the City’s pension plans, and specifies the Fund’s allowable investments, permissible asset allocation ranges, and investment performance benchmarks. This IPS was submitted for review by the City Audit & Finance Committee on February 5, 2020 (See File #190942). The IPS was approved and recommended for submission to, and approval by, the City Commission.

 

Fiscal Note

This Investment Policy Statement itself has no direct financial impact on the City, however the IPS does determine how the Evergreen Cemetery Trust Fund can be invested. Expected investment returns for the City’s Evergreen Cemetery Trust Fund are included in the City’s annual budgets.

 

Recommendation

Recommended Motion:  The City Commission approve the 2020 Investment Policy Statement for the City of Gainesville Evergreen Cemetery Trust Fund.

 




© 2014 City of Gainesville, Florida. All right reserved.

CONTACT US
City Departments
Online Contact
200 East University Ave.
Gainesville, FL 32601
352-334-5000