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<br /> . <br /> . <br /> I <br /> Internal Reporting -. <br /> The City Accountant will develop and maintain procedures that will ensure the investment <br /> portfolio is maintained on the City's computer system on a daily basis and that this <br /> information is available to both management and the City Council at any time. I <br /> Annual Re\)orting: <br /> Within 90 days of the end of the fiscal year, the Treasurer shall submit a written I <br /> comprehensive annual report on the investment program and investment activity. This . <br /> report shall summarize the investment strategies, describe the portfolio in terms of <br /> securities, maturities, risk characteristics and other features. This report shall explain the <br /> total investment return and compare the return with budgetary expectations. This report . <br /> shall contain a detailed comparison of total rate of return with other benchmarks. <br /> Benchmarks for comparison may include: the Minnesota Municipal Money Market Fund, <br /> 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, investment <br /> strategies to be implemented and budgetary expectations for investment income. . <br /> Investment Policy Adoption: <br /> 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 /> prior to becoming effective, any modifications made thereto must be approved by the City . <br /> Council. <br /> . <br /> . <br /> . <br /> . <br /> I <br /> . <br /> - . <br /> 5 <br /> . <br />