Investment Policy Certification

Programs and Publications
Questions

Tutorial

APT US & C's has an online tutorial in order to provide some assistance on completing the investment policy application. View the tutorial

Application

Investment Policy Model and Certification Application
Investment Policy Model and Maintenance Certification Application

APT US & C's Investment Policy Program provides public investors with guidance and technical assistance in developing a comprehensive written investment policy.

The Model Investment Policy includes elements the Association deems essential to a written investment policy, and establishes an outline upon which treasury officials may develop their own policies.

APT US & C's Investment Policy program is unique as it is the only Program that provides a review and certification component. The Model also includes an application for certification. To become certified, public treasury officials submit their government's investment policies to APT US & C for peer review and certification before it is presented to the applicant's governing board.

What are the benefits of having your Investment
Policy Certified by APT US & C

Probably the best benefit is the trust and confidence that your governing body and the public that it serves receives from knowing that you not only have taken the time to draft an Investment Policy, but you have taken the extra professional step of having the Association of Public Treasurers-United States & Canada review and Certify that your policy is a professionally accepted policy.

A little info about the APT US & C and the Investment Policy Certification process might be of benefit.

As you know the APT US & C is the national Treasurer’s association that spends the majority of its resources in the quest to inform and educate public Treasurers in all matters concerning public funds management. Their annual conferences are the pinnacle for information sharing, and are extremely beneficial for building peer friendships that help in the day to day idea sharing that we all need.

How and Why does APT US & C certify Investment Policies?

The Investment Policy Certification Committee is comprised of 18 public Treasurers and or Broker/Dealers who volunteer to serve as reviewers. They come from many States and are assigned to 6 teams of 3 each. These teams review the submitted policies. For your policy to receive certification it must be approved by all three reviewers on the 18 areas spelled out in the APT US & C model policy.

For your policy to achieve certification it must adequately address:

1. Policy
2. Scope
3. Prudence
4. Objective
5. Delegation of Authority
6. Ethics and Conflicts of Interest
7. Authorized Financial Dealers and Institutions
8. Authorized and Suitable Investments
9. Investment Pools/Mutual Funds
10. Collateralization
11. Safekeeping and Custody
12. Diversification
13. Maximum Maturities
14. Internal Control
15. Performance Standards
16. Reporting
17. Investment Policy Adoption
18. Glossary

If your policy does not receive an adequate score to pass, you receive the critique that will allow you to modify your policy so it will reach the professional standards required for the APT US & C certification.

Why do you want to get your policy certified?

Over the years there have been a number of financial missteps in a number of large and small entities. If these entities Investment Policies would have been certifiable by APT US & C they most likely would have been able to avoid the pitfalls that got them into trouble.

If you create a policy that will reach certification standards set by APT US & C you will be assuring yourself and the public that you serve that you are abiding by professional standards established to ensure prudent management of their public funds.

Once your policy is certified, show your plaque to your elected officials, it will make them confident that their funds are professionally managed.

In closing, the Investment Policy Certification Committee recommends that you revisit your policy and have it reviewed and approved by your governing body annually.

The committee also recommends having your policy recertified by APT US & C every 3 years.

Questions

Any questions concerning the Investment application or the Investment maintenance application can be addressed to Jill Lucidi, who is the current chair of the APT US & C Investment Certification Committee.