With the Federal Reserve raising interest rates at the most aggressive pace in forty years and FDIC stepping in to facilitate the resolution of two of the five largest bank failures in recent history, it is critical that public investment officials have an updated investment policy and comprehensive cash management and investment framework to ensure the safety of public funds.

During this two-day course, participants will learn how to implement the eleven steps to a disciplined framework for prudent and effective investment of public funds as detailed in Girard Miller’s Investment Public Funds. The course will provide an in-depth analysis of the following:

• Federal and state laws governing the investment of public funds
• Cash forecasting and budgeting
• The investment process
• Framework to manage relationships with financial institutions and broker/dealers
• Administrative systems and internal controls
• Establishing an investment outlook
• Selection optimal short-term investment instruments
• Monitoring and reporting performance
• Managing interest rate arbitrage

 After completing the course, participants will be able to:

• Understand the state law requirements related to the investment of idle cash
• Establish/update a comprehensive investment policy that will identify investment objectives, define the scope of authority, and prescribe the applicable reporting requirements
• Prepare a detailed cash forecast and budget
• Analyze the investable short-term fixed income and money market environment and identify various investment strategies
• Select optimal investments to meet their organization’s investment objectives
• Comply with federal interest rate arbitrage requirements