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Office of the Chief Financial Officer
 

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Management of the District’s Financial Assets and Investments

Purpose

The management of the District’s financial assets is established by the Financial Institutions Deposit and Investment Act of 1997. The information contained in the Financial Institutions Deposit and Investment Act of 1997 is the basis for the District’s Investment Policy. The ivestment 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, in order of priority, the following:

  • Safety -- Undertakes investments in a manner that seeks to ensure preservation of principal of the District’s financial assets.
  • Liquidity -- Provides sufficient liquidity to enable the District to meet all daily and seasonal operating, special project and capital obligations.
  • Return on investment -- Maximize return on investments within the context and parameters of the safety and liquidity objectives.

The 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.

Cash and Investments Legislation and Policies: