City Investment Policy and Equity Investing

At a glance

Based on auto-generated captions; names and details may be misheard.

What: resolution (agenda item 30) adopting a revised city investment policy that for the first time allows investing a limited share of long-term funds in equities.
Where it stands: Finance Committee voted unanimously on 2026-10-20 to recommend adoption.
Next: City Council vote; if adopted, the Treasurer plans an RFP for an investment manager.

Basis: 2022 Wyoming constitutional amendment and 2025 legislation allowing local governments to invest in equities. The previous policy was approved March 2025.
Eligible funds: about $47.3 million ($26.9 million 120-day general fund reserve, $19.5 million landfill post-closure, $876,000 cemetery perpetual care).
Cap of 20% (about $9.5 million, roughly 3.6% of the total portfolio), recalculated yearly. A maximum, not a requirement.
Passive diversified mutual funds or ETFs only: targets of 70% US total market, 25% developed international, 5% emerging markets. Reviewed at least quarterly.
Priorities remain safety, then liquidity, then return.
The investment committee (two council members, two finance experts, the mayor and the Treasurer) recommended the changes.

Treasurer Lockman presented. Wolfe asked who the two outside committee members are; they work for the state treasurer's office and names were to follow.
No public comment.

About 7 minutes across 1 meeting (from transcript timestamps; approximate).

Meeting	Minutes
2026-10-20 - Finance Committee	7