Appendix I
Non-Tax Revenue Plan
Appendix A
Financial Policy Investment Policy Policy FN14
The Naperville Park District shall invest any surplus funds for a specific maturity date that is required for either cash flow purposes or for conformance to maturity guidelines, if such instruments which would be most advantageous under prevailing market conditions exist. Records will be kept of all investments purchased or sold by the District in compliance with statutes. 4. Select Alternatives If certificate of deposit or time deposits are to be used, the District will solicit quotes from at least 2 approved institutions. Preference shall be given to any local institution whenever comparable opportunities arise. Money Market accounts may be used if rates are competitive. 5 Performance Benchmark In order to effectively measure investment performance for a managed portfolio, an established benchmark will be selected and approved by the Finance Director. The appropriate benchmark will be selected based on the portfolio goals and objectives as governed by guidelines in this policy. The managed portfolio will be compared to the established benchmark on a monthly/quarterly basis . Investment Parameters-Operating Funds To the extent possible, the Naperville Park District will attempt to match its investments with anticipated cash flow requirements. Maturity scheduling shall be timed according to anticipated need. The maximum maturity should not exceed three (3) years and the portfolio duration should not exceed two (2). For investment in pooled accounts or funds the duration should not exceed two (2). Investment Parameters Reserve Funds: Reserve funds and other funds with longer-term horizons may be invested in securities with the following guidelines. The maximum maturity should not exceed five (5) years and the portfolio duration should not exceed three (3) For investment in pooled accounts or funds the duration should not exceed three (3). Policy Considerations 1. Exemption Any investment held prior to the approval of this policy that does not meet the guidelines of this policy shall be exempted from the requirements of this policy. At maturity or liquidation, such monies shall be reinvested only as provided by this policy.
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280 Naperville Park District | 2023 MASTER PLAN
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