The City currently has funds in bank accounts, investment pool accounts, and investment accounts.
Florida Statutes, Section 218.415, limits the types of investments that a government can invest in unless specifically authorized in an investment policy. On January 6th, 2021, the City of Cape Coral adopted a revised comprehensive investment policy for the purpose of ensuring the prudent management of public funds (safety of principal) , the availability of operating and capital funds when needed (maintenance of liquidity) , and an investment return competitive with comparable funds and financial market indices (return on investment) In order to achieve these objectives the policy establishes permitted investments, asset allocation limits, issuer limits, credit rating requirements, and maturity limits to protect the City’s cash and investment assets. The investment policy applies to all cash and investments held or controlled by the City with the exception of Pension Funds and funds related to the issuance of debt.
The City employs an Investment Advisor to assist in managing the investment accounts. The investment advisor prepares quarterly and annual reports which include performance results and economic information to the investment committee.