The Rawlins City Council is hosting three upcoming city rate and fee meetings to review financial information following the initial rate and fee study presentation at work session on Jan. 30.
The Rawlins City Council is hosting three upcoming city rate and fee meetings to review financial information following the initial rate and fee study presentation at work session on Jan. 30.
RAWLINS — The city of Rawlins has been authorized to participate in the Wyoming Government Investment Fund (WGIF), following the council’s vote on the matter at the March 19 meeting.
Through this vote of approval, the finance department will establish an account with WGIF, in order for the current funds that are being held to be invested at higher interest rates.
According to Wyoming Statute 9-4-831 “Investment of public funds” — (a), “The state treasurer, or treasurer of any political subdivision, municipality or special district of this state, and the various boards of trustees and boards of directors of county hospitals, airports, fairs and other duly constituted county boards and commissions, may invest.”
The WGIF was established in 1996 in order to “cash-management investments designed exclusively for Wyoming public entities,” the agenda states. “In addition, the WGIF provides municipal investors with a full range of effective tools for meeting their cash flow and investment needs, including comprehensive investment management services, education and support.
“WGIF is sponsored by the Wyoming School Boards Association (WSBA) and Wyoming Association of Municipalities (WAM).”
WGIF, along with its various services, offer participants the opportunity to “maximize their income, while maintaining safety, liquidity and yield as their primary investment objectives.”
Additionally, there are two different professionally managed investment options that the WGIF offers eligible participants:
WGIF Liquid Asset Series
WGIF Fixed-Rate/Fixed-Term Pools
According to the agenda, the following attributes “set WGIF apart”:
WGIF is the state’s only investment program sponsored by the WSBA and WAM.
WGIF is owned and operated by the fund’s participants, ensuring that the fund remains focused on the particular needs of Wyoming’s public entities.
The fund’s participants elect members of the board of directors to govern WGIF — a board that represents Participants of the Fund.
The board of trustees is responsible for overall management of the fund, including formulation and implementation of investment and operating policies.
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