06-20-07 FPAC Minutes - Laserfiche WebLink

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"Maturities of Investments in a Portfolio"in Appendix.) Because of inherent difficulties in accurately forecasting cash flow requirements,a portion of the • portfolio should be continuously invested in readily available funds such as local government investment pools,money market funds,or overnight repurchase agreements to ensure that appropriate liquidity is maintained to meet ongoing obligations. 3. Competitive Bids The investment officer shall obtain competitive bids from at least two brokers or financial institutions on all purchases of investment instruments purchased on the secondary market. IX. Reporting 1. Methods The investment officer shall prepare an investment report at least quarterly[or monthly], including a management summary that provides an analysis of the status of the current investment portfolio and the individual transactions executed over the last quarter[or month]. This management summary will be prepared in a manner which will allow the [entity] to ascertain whether investment activities during the reporting period have conformed to the investment policy. The report should be provided to the entity's chief administrative officer,the legislative body,the investment committee and any pool participants. The report will include the following: • Listing of individual securities held at the end of the reporting period. • Realized and unrealized gains or losses resulting from appreciation or depreciation by listing the cost and market value of securities over one-year duration that are not intended to be held until maturity(in accordance with Governmental Accounting Standards Board(GASB) • requirements). • Average weighted yield to maturity of portfolio on investments as compared to applicable benchmarks. • Listing of investment by maturity date. • Percentage of the total portfolio which each type of investment represents. Alternative sample: 1. The investment officer shall submit quarterly an investment report that summarizes recent market conditions, economic developments and anticipated investment conditions. The report shall summarize the investment strategies employed in the most recent quarter, and describe the portfolio in terms of investment securities,maturities,risk characteristics and other features. The report shall explain the quarter's total investment return and compare the return with budgetary expectations. The report shall include an appendix that discloses all transactions during the past quarter: The report shall be in compliance with state Iaw and shall be distributed to the investment committee and others as required by law. Each quarterly report shall indicate any areas of policy concern and suggested or planned revision of investment strategies. Copies shall be transmitted to the independent auditor. Within 40 days of the end of the fiscal year, the investment officer shall present a comprehensive annual report on the investment program and investment activity. The annual report shall include 12-month and separate quarterly comparisons of return and shall suggest • policies and improvements that might be made in the investment program. Alternatively,this