Cheyenne Considers Loosening Rules on Municipal Fund Investment: Long-Term Reserves Could Enter the Stock Market; City Council to Review on the Evening of October 26
Cheyenne, Laramie County, Wyoming, is considering a change to the way it manages municipal funds that would allow part of its long-term reserves to be invested in the stock market; the City Council will hold its regular meeting at 6 p.m. on October 26, at which the proposal may be submitted for review. The investment policy revision was discussed at the Cheyenne Finance Committee meeting on October 20; it would expand the range of investments from traditional fixed-income products, allowing a portion of long-term reserves into the stock market, with the goal of seeking higher long-term returns while guarding against inflation.
The Finance Committee has reportedly supported the revision, but final approval rests with the Cheyenne City Council. The proposal follows a change in Wyoming state law allowing certain public funds to be invested in equities. Supporters argue that an appropriate allocation of long-term funds to equities helps preserve and grow their value; at the same time, stock-market volatility means public funds could incur losses, and how to balance returns against the safety of taxpayer money is the focus of the deliberation. If the revision is approved, the new investment policy will establish new investment options for the city government, and the city finance department will need to strike a balance between return targets and prudent management. The City Council's regular meeting will be held at 6 p.m. on October 26, and whether the proposal is voted on that day will follow the meeting's actual agenda.
Source: GSM · USA (original Chinese edition)
Photo: 怀俄明州议会大厦（位于夏延）内景。图片：Jack Boucher，Public domain，取自维基共享资源。
