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CCP 08-17-1995
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CCP 08-17-1995
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<br />I ' . <br />I. Internal Rel1omnl! <br />I The Ciiy Accountant will develop and maintain procedures thar will ensure the investment <br /> porttolio is maintained on the City's computer system on a daily basis and that this <br />I information is available to both management and the City Council at any time. <br /> Annual Renomnt:: <br />I Within 90 days of the end of the fiscal year, the Treasurer shall submit a wrinen <br /> comprehensive annual report on the investment program and investment activity. 11ris <br />I report shall summarize the investment strategies, describe the porttolio in terms of <br /> securities, marurities., risk characteristics and other fearures. 11ris report shall explain the <br /> total investment return and compare the return with budgetary expectations. 1bis report <br />I shall contain a detailed comparison of total rate of return with other benchmarks. r. <br /> Benchmarks for comparison may include: the Minnesota Municipal Money Market Fund. <br />I treasury bill rates thar are indicative of a strictly passive investment strategy or any other <br /> index that may be deemed appropriate. And finally, the report should contain a discussion <br /> of the outlook for interest rates and the economic trend for the upcoming year, investment <br />I strategies to be implemented and budgetary expectations for investment income. <br /> Investtnent Policy Ado\)tion: <br />I- The City's investment policy shall.be adopted by a resolution of the City Council. The <br /> policy shall be reviewed on an annual basis by both the City Council and the Treasurer and <br />I prior to becoming effective, any modifications made thereto must be approved by the City <br /> Council. <br />I <br />I <br />I <br />I <br />I <br />I <br />Ie s <br />I <br /> ----- <br />
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