Title
Joint resolution approving the revised Lake County Investment Policy.
Staff Summary
• This policy applies to the investment activities of all funds of Lake County.
• It is in Lake County’s best interest to make periodic changes to the invest policy to ensure relevance with changing economic conditions and changes in technology.
• The Treasurer’s Office staff met with F.A.S. before considering these changes.
• Changes recommended include:
o Updating types of investments to include Illinois Metropolitan Investment Fund (IMET).
o Updating collateral agreement to include the use of technology to monitor collateral as well as modifying acceptable types of collateral.
o Updating year end reports from financial institutions to include Lake County External auditor’s confirmation requests.
o Updating Internal Control-Duties and Responsibilities to include current job titles.