TO: Mayor and Commission AGENDA DATE: 12/15/2025
FROM: City Manager AGENDA ITEM: 7 - B
SUBJECT:
Title
Request for approval of Resolution No. 2025-166, authorizing the City to open an investment account with FLCLASS and authorizing the City Manager or designee to execute all appropriate documentation.
Body
LOCATION:
Citywide
COST:
Not Applicable
SOURCE OF FUNDS:
Not Applicable
ORIGINATING DEPARTMENT:
Finance
POTENTIAL MOTION:
Recommendation
“I move to approve Resolution No. 2025-166, Investment Account with FLCLASS.”
END
BACKGROUND:
Background
Consideration will allow the City of Deltona to participate in the FLCLASS investment pool and fund investment accounts according to the City’s previously approved investment policy.
Under Florida Statute Sec. 218.415, local governments of the State of Florida may adopt written investment policies to allow investment and reinvestment of any surplus public funds in their control or possession in the Local Government Surplus Trust Fund or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Act, FS §163.01 via Resolution. Resolution No. 2020-59 authorizes participation in local government investment pools. The proposed revision to the investment policy under consideration as part of Resolution No. 2025-153 maintains this as an authorized investment option.
The City currently participates in 2 intergovernmental pools, Florida Prime and FLSAFE, which were previously approved by the City of Deltona City Commission. Adding FLCLASS will help diversify our investments among the pools. The 3 pools currently have a 30-day yield of between 4.03% - 4.27%, all with daily liquidity. Staff determine the cash needs for operations and upcoming capital needs and invest the remaining funds among the pools and authorized investments.
End