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Each dollar of property taxes paid is split between several local entities.Read about how each dollar is split.
The City of Manhattan’s investment policy is tightly controlled by Kansas statutes (K.S.A. 12-1675 through 12-1677b) which limits the types and duration of any investment that the city may make. Although the city has been granted ‘expanded investment powers’ by the state of Kansas Pooled Money Investment Board (PMIB), these expanded powers only allow for an investment to be extended to four years instead of two as noted in the aforementioned statutes. The city bids each investment to all local banks and requires each investment to have proper collateral to ensure the safety and liquidity of that investment. The city’s investment portfolio is ‘laddered’ in a manner where an investment is maturing nearly every month. This practice allows the investment committee to make prudent decisions of when to reinvest funds based on operational and funding needs. Any questions regarding the city’s investment policy can be directed to the Assistant Finance Director at firstname.lastname@example.org