ACTION REQUESTED:
Title
Communication from the City Manager and Finance Director/Comptroller with a Request to APPROVE a RESOLUTION Authorizing KYLE CRATTY to Serve as TRUSTEE OF THE ILLINOIS PUBLIC RESERVES INVESTMENT MANAGEMENT TRUST.
Body
BACKGROUND: The Illinois Public Reserves Investment Management Trust (iPrime) is a local government investment pool that helps Illinois governments invest their liquid cash in a money market investment vehicle. A board of trustees was created for the fund to give governments the fiduciary oversight of the fund. That board provides the investment direction of the fund. The board is not compensated for their participation.
The City of Peoria is currently an investing member of the iPrime. Having the City’s finance director sit on the board will provide additional insight into the fund.
FINANCIAL IMPACT: None
NEIGHBORHOOD CONCERNS: None
IMPACT IF APPROVED: None
IMPACT IF DENIED: None
ALTERNATIVES: None
EEO CERTIFICATION NUMBER: None
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2017 - 2032 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Have an efficient government.
DEPARTMENT: Finance