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7. C. Revised Investment Policy - Recommended by Investment <br />Advisory Committee <br />The Board reviewed a Memorandum of August 29, 2000: <br />TO: BOARD OF COUNTY COMMISSIONERS <br />DATE: AUGUST 29, 2000 <br />SUBJECT: INVESTMENT POLICY <br />FROM: JEFFREY K. BARTON, CLERK OF THE CIRCUIT COUR� <br />Investments of excess County funds made by the Clerk are conducted in accordance with the <br />Investment Policy adopted by the Board of County Commissioners on September 5, 1995. This <br />Policy is based on the requirements of Section 218.415, Florida Statutes. <br />During the 2000 Florida Legislative session, Section 218.415, Florida Statutes, was amended by <br />Chapter 2000-264. The amendments to Section 218.415 were based upon the State of Florida <br />Auditor General's 1998 survey of the implementation of Section 218.415, Florida Statutes, by local <br />governments. The major changes to Section 218.415 were revisions to the list of authorized <br />investments, modification of the bid requirements, and addition of the requirement for continuing <br />education. <br />To assist in the revision of the investment policy, the Investment Advisory Committee (a seven <br />member committee consisting of three local citizens, two of my staff, one representative of the <br />County Administrator, and myself) reviewed the changes to Section 218.415 and recommended <br />changes to the County's Investment Policy. Those changes have been incorporated into the revised <br />Investment Policy. <br />RECOMMENDATION <br />I recommend that the Board of County Commissioners adopt the revised Investment Policy, which <br />will serve as the controlling document for the investment of all surplus funds of the Board. <br />attachment <br />September 5, 2000 <br />16 <br />BK 114PG750 <br />• • <br />