 |
 |
|
|
 |
|
INVESTMENTS/CASH MANAGEMENT
The City of Franklin has an investment policy that is patterned after the Government Finance Officers Association model policy. The CFO, Controller, and principle investment officer oversees the policy and reports to the Budget and Finance Committee. Most investments are extremely short-term due to the tax collection cycle; however some investments of reserve funds extend to forty-eight months. Short-term investments are normally kept in the Certificates of Deposits of one year or less, collateralized bank accounts which pays relatively high rates for overnight availability, Government Agency notes, or Tennessee Local Government Investment Pool.
The City also places funds by bid when rates are favorable. Certificates of Deposit with approved banks, Treasury instruments, and short-term notes of government agencies are used when rates are favorable. |