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CCP 08-17-1995
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CCP 08-17-1995
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<br /> I , <br /> . . <br /> I. Internal Re1)omnl! <br /> I The City Acco untant will develop and maintain procedures that will ensure the investtnent <br /> portfolio is maintained on the City's computer system on a daily basis and that this <br /> I mformation is available [0 both management and the City Council at any time. <br /> '\nnual Re1)ortioll': <br /> I Within 90 days of the end of the fiscal year, the Treasurer shall submit a written <br /> comprehensive annual report on the mvesnnent program and investtnent activity. TIlls <br /> I report shall summarize the investtnent strategies. describe the portfolio in t=s of <br /> securities, marurities, risk characteristics and other features. TIlls report shall explain the <br /> total invesnnent return and compare the return with budgetary expectations. TIlls 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 that 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, investtnent <br /> I strategies to be implemented and budgetary expectations for investment income. <br /> Investment Policv Adootion: <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 /> I- S <br /> I <br />
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