FY23 FULL BUDGET REPORT ADOPTED

Expenditures, Economic Development related expenditures, or transfer the excess to a Capital Reserve Fund. Therefore, the unassigned fund balance range target is forty-five (45%) percent.

Investment Policy The purpose of this investment policy is to guide the Town of Morrisville in managing cash on hand, to preserve principal, and generate income to provide cash for daily operational and capital needs. a) It is the intent of the Town that public funds will be invested to the extent possible to reduce the need for property tax revenues. Funds will be invested with the chief objectives of safety of principal, liquidity, and yield, in that order. All deposits and investments of Town funds will be in accordance with N.C.G.S. 159. b) The Town will use a Central Depository to maximize the availability and mobility of cash for all funds that can be legally, and practically combined. c) Cash Flows will be forecast, and investments will be made to mature when funds are projected to be needed to meet cash flow requirements. d) Liquidity: No less than 20% of funds available for investment will be maintained in liquid investments at any point in time. e) Maturity: All investments will mature in no more than fifteen (15) years from their purchase date. f) Custody: All investments will be purchased “payment -versus- delivery” (DVP) basis and if certificated will be held by the Finance Officer in the name of the Town. All non-certificated investments will be held in book- entry form in the name of the Town with the Town’s third -party Custodian (Safekeeping Agent). g) Authorized Investments: The Town may deposit Town Funds into any Council approved Official Depository, if such funds are secured in accordance with NCGS-159 (31). The Town may invest Town Funds in the North Carolina Capital Management Trust, US Treasury Securities, US Agency Securities specifically authorized in NCGS-159 and Commercial Paper meeting the requirements of NCGS-159 plus having a national bond rating. h) Diversification: No more than 5% of the Town’s investment funds may be invested in a specific company’s commercial paper and no more than 20% of the Town’s investment funds may be invested in commercial paper. No more than 2 5% of the Town’s investments may be invested in any one US Agency’s Securities. i) Allocation: Investment income will be allocated to each participating fund or account based on a fair and equitable formula determined by the Finance Director. Nondiscrimination Policy The purpose of the Town’s Nondiscrimination Policy is to address issues of diversity and multiculturalism that foster an inclusive community and the elimination of discrimination. The Town does not and shall not discriminate on the basis of race, color, religion (creed), gender, gender expression, age, national origin (ancestry), disability, marital status, sexual orientation, or military status, in any of its activities or operations. These activities include, but are not limited to, hiring and firing of staff, selection of volunteers and vendors, and provision of services. The Town is committed to providing an

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