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1. Introduction <br />This Investment Policy defines the parameters within which funds are to be invested by the City <br />of Tukwila ("City"). This policy also formalizes the framework of the City's Policy and Procedures <br />to provide the authority and constraints for the City to maintain an effective and judicious <br />management of funds within the scope of this policy. <br />These policies are intended to be broad enough to allow the Finance Director or authorized <br />designee to function properly within the parameters of responsibility and authority, yet specific <br />enough to adequately safeguard the investment assets. <br />2. Governing Authority <br />The City of Tukwila's investment authority is derived from RCW 35A.40.050 and 35.39.032. The <br />investment program shall be operated in conformance with Washington Revised Statutes and <br />applicable Federal Law. All funds within the scope of this policy are subject to regulations <br />established by the State of Washington. <br />3. Policy Statement <br />This policy establishes standards and guidelines for the direction, management and oversight for <br />all of the City of Tukwila's investable cash and funds. Funds must be invested prudently to assure <br />preservation of principal, provide needed liquidity for daily cash requirements, and provide a <br />market rate of return. All investments must conform to federal, state, and local statutes governing <br />the investment of public funds. <br />4. Scope <br />This policy applies to activities of the City of Tukwila with regard to investing the financial assets <br />of the City. The City commingles its funds to maximize investment earnings and to increase <br />efficiencies with regard to investment pricing, safekeeping, and administration. Investment <br />income will be allocated to the various funds based on their respective participation and in <br />accordance with generally accepted accounting principles (GAAP). Principal and interest is <br />apportioned for the benefit of the various participating funds or for the benefit of the general fund. <br />(RCW 35.39.034) The city maintains the right to separate certain funds and exclude them from <br />the scope of this policy. Should bond covenants be more restrictive than this policy, funds shall <br />be invested in full compliance with those restrictions. <br />5. Objectives <br />All funds will be invested in a manner that is in conformance with federal, state and other legal <br />requirements. In addition, the objectives, in order of priority, of the investment activities will be as <br />follows: <br />City of Tukwila Investment Policy 2025 Page 3 of 18 <br />7 <br />