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Management of the District’s Financial Assets and Investments

Purpose

The management of the District’s financial assets are established by the Financial Institutions Deposit and Investment Act of 1997. The information contained in the Financial Institutions Deposit and Investment Act of 1997 was condensed and outlined in the District’s Investment Policy.  The Investment Policy has been adopted by, and can only be changed by, the District’s Chief Financial Officer and the District’s Treasurer.

The District’s Investment Policy is designed to ensure the prudent management of public funds, the availability of operating and capital funds when needed, and an investment return competitive with comparable funds and financial market indices.  This Investment Policy does not supersede applicable District laws and code. The accounting for the District’s investment portfolio will be consistent with guidelines for the Government Accounting Standards Board, as interpreted by the District’s Office of Financial Operations and Systems.

Scope

This Investment Policy governs the overall administration and investment management of those monies held in the District’s investment portfolio.  It will apply to such monies from the time of receipt until the time they leave the District’s accounts.  This Investment policy applies to all cash and financial investments of the various funds of the District of Columbia as identified in the District’s Comprehensive Annual Financial Report, with the exception of those financial assets explicitly excluded from coverage for legal or operational purposes.  These monies include, but are not limited to, operating funds, debt service funds, capital project funds, and grant funds.

The requirements set forth herein will be strictly followed by all those responsible for any aspect of the management or administration of these monies.