CCP 08-17-1995 - Laserfiche WebLink

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I , . . I. Internal Re1)omnl! I The City Acco untant will develop and maintain procedures that will ensure the investtnent portfolio is maintained on the City's computer system on a daily basis and that this I mformation is available [0 both management and the City Council at any time. '\nnual Re1)ortioll': I Within 90 days of the end of the fiscal year, the Treasurer shall submit a written comprehensive annual report on the mvesnnent program and investtnent activity. TIlls I report shall summarize the investtnent strategies. describe the portfolio in t=s of securities, marurities, risk characteristics and other features. TIlls report shall explain the total invesnnent return and compare the return with budgetary expectations. TIlls report I shall contain a detailed comparison of total rate of return with other benchmarks. r Benchmarks for comparison may include; the Minnesota Municipal Money Market Fund. I treasury bill rates that are indicative of a strictly passive investment strategy or any other index that may be deemed appropriate. And finally, the report should contain a discussion of the outlook for interest rates and the economic trend for the upcoming year, investtnent I strategies to be implemented and budgetary expectations for investment income. Investment Policv Adootion: I. The City's investment policy shall.be adopted by a resolution of the City Council. The policy shall be reviewed on an annual basis by both the City Council and the Treasurer and I prior to becoming effective, any modifications made thereto must be approved by the City Council. I I I I I I I- S I