This investment policy applies to all moneys and other financial resources available for investment on its own behalf. II. OBJECTIVES The objectives of the local government’s investment activities are, in priority order, -to conform with all applicable federal, state, and other legal requirements; -to adequately safeguard principal -to provide liquidity to meet all operating requirements; and -obtain a reasonable rate of return III. DELEGATION OF AUTHORITY The Board of Trustees responsibility for administration of the investment program is delegated to the Treasurer, who shall establish written procedures for the operation of the investment program consistent with these investment guidelines. Such procedures shall include an adequate internal control structure to provide a satisfactory level of accountability based on a data base or records incorporating description and amounts of investments, transaction dates, and other relevant information and regulate the activities of subordinate employees. The opening or closing of any bank account will require approval of the Village Manager or in his/her absence, the Village Clerk. The opening or closing of any bank account shall only be in authorized depositories.
