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Council approves financial policies to make city more nimble in investments

 

November 22, 2017



The Sweet Home City Council last week approved new financial policies that will give the city more options for investing its funding reserves.

Right now, the city holds its tax revenues until needed in the state-operated Local Government Investment Pool and in money market funds through Umpqua Bank.

“Several members of the council felt that the interest rate offered was too low, and the city was missing out on potential revenues by having the city’s reserves held in the pool,” said Finance Director Pat Gray during the council’s regular meeting on Nov. 13.

“In 2016, we were aske...



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