Investment Policy for Lee County Illinois

The following policy is adopted for Lee County. This investment policy applies to the investment activities of all funds under the jurisdiction of the Lee County Treasurer. This investment policy will apply to any new funds or temporary funds under the jurisdiction of the Lee County Treasurer.

The purpose of this investment policy is to establish cash management of public funds held by the Lee County Treasurer.

1. Safety of Principal

2. Diversity of investments to avoid unreasonable risks

3. The portfolio shall remain sufficiently liquid to meet all operating costs

4. The highest interest rate available will always be the objective of this policy combined with safety of principal

5. In maintaining its investments portfolio, Lee County Treasurer’s Office shall avoid any transaction that might impair public confidence.

6. The Lee County Treasurer will give consideration to the financial institutions positive community involvement when consideration is given to the financial institution to be used as depository.

7. All funds shall be deposited within two working days at prevailing rates

All investments of funds being held by the Lee County Treasurer for the Lee County Board are direct responsibility of the Lee County Investment Officer. The Lee County Treasurer shall be responsible for all transaction and establish a system of controls of such investment activities being held for Lee County Board. The Lee County Investment Officer shall record all investment transactions and a report will be made available monthly to the Lee County Board. The Lee County Treasurer may request collateral for any part of deposits in financial institutions when the Treasurer determines it to be in the best interests of safeguarding the funds. All investments will be made in accordance with the Illinois compiled statues for use by the Treasurer of the State of Illinois.

Lee County Treasurer

last updated: 4/05/2005