Polk County officials have taken a significant step towards enhancing financial security by adopting a new investment policy during the Board Meeting on May 20, 2025. The policy aims to establish a conservative framework for managing county funds, ensuring that investments are safe and secure.

Jean McGann from ABDO presented the revised investment policy, which underwent several modifications since its initial draft. Key changes include the elimination of verbal quotations from brokers, a shift to requiring all quotations in writing, and the removal of high-risk investment options such as commercial paper and bankers' acceptances. These adjustments reflect a commitment to minimizing risk and promoting transparency in investment practices.

The policy also clarifies the responsibilities of the finance director and the county administrator in overseeing compliance and managing investments. A professional advisor will be engaged to assist in developing a cash flow analysis and to ensure adherence to the new guidelines. Regular updates will be provided to the board, allowing for ongoing oversight of investment performance.

In addition to the investment policy, the board discussed the upcoming budget calendar, which will incorporate new software to streamline financial processes. The meeting concluded with the approval of a request to fill a wellness coordinator position following the resignation of the current incumbent.

This proactive approach to financial management is expected to enhance the county's fiscal health and provide a solid foundation for future investments, ultimately benefiting taxpayers in Polk County.