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A Resolution Adopting the Investment Policy and the Improper Payment Policy
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Introduction
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This is a resolution to adopt two financial policies governing the investment of Village funds and the prevention, identification, and correction of improper payments involving HUD funds.
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Recommended Action
Adopt the resolution, approving the attached Investment Policy and Improper Payment Policy.
Prior Board Action
The Village Board has discussed updating its Investment Policy in the past to reflect Village Values, and most recently the Finance Committee has considered the following items, with the most recent listed first:
• August 20, 2026, MOT 26-207: The Finance Committee discussed the Investment Policy and Improper Payment Policy as part of a broader review of financial policies and the associated Investment Operations Standard Operating Procedure. The revised Investment Policy reflected feedback from the August 6 and August 20 discussions, including a section on Village Values.
• August 6, 2026, MOT 26-203: The Finance Committee discussed the proposed Investment Policy, provided feedback on sustainability, Village values, transparency, and implementation, and considered forwarding a revised policy for Village Board consideration.
Background
The Investment Policy was discussed on several occasions in prior years, but the Village Board never formally adopted an updated Investment Policy. Finance Staff developed the proposed policy to establish a consistent framework for legal authority, investment objectives, authorized investments, custody, diversification, and public reporting. The policy covers Village funds but excludes the legally independent Police and Fire Pension Fund Boards. Its objectives are legality, safety, liquidity, and yield, in that order.
After the Finance Committee discussed the policy on August 6, 2026, under MOT 26-203 and received public comment, staff revised it to include Section VII....
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