My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
06-20-07 FPAC Minutes
ArdenHills
>
Administration
>
Commissions, Committees, and Boards
>
Financial Planning and Analysis Committee (FPAC)
>
FPAC Packets
>
2007
>
06-20-07 FPAC Minutes
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/24/2024 4:07:07 PM
Creation date
11/9/2007 2:19:12 PM
Metadata
Fields
Template:
General
Document
06-20-07 Minutes
General - Type
Minutes
Date
6/20/2007
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
209
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
report may be included within the [entity] annual Comprehensive Annual Financial Report. <br /> 11111 2. Performance Standards <br /> The investment portfolio will be managed in accordance with the parameters specified within this <br /> policy. The portfolio should obtain a market average rate of return during a market/economic <br /> environment of stable interest rates. A series of appropriate benchmarks shall be established <br /> against which portfolio performance shall be compared on a regular basis. The benchmarks shall <br /> be reflective of the actual securities being purchased and risks undertaken, and the benchmarks <br /> shall have a similar weighted average maturity as the portfolio. <br /> Alternative sample: <br /> The[entity's] cash management portfolio shall be designed with the objective of regularly meeting <br /> or exceeding a selected performance benchmark,which could be the average return on three-month <br /> U.S.Treasury bills,the state investment pool,a money market mutual fund [specify] or the average <br /> rate of Fed funds. These indices are considered benchmarks for lower risk investment transactions <br /> and therefore comprise a minimum standard for the portfolio's rate of return. <br /> 3. Marking to Market <br /> The market value of the portfolio shall be calculated at least quarterly[or monthly] and a statement <br /> of the market value of the portfolio shall be issued at least quarterly[or monthly]. This will ensure <br /> that review of the investment portfolio,in terms of value and price volatility,has been performed <br /> consistent with the GFOA Recommended Practice on "Mark-to-Market Practices for State and Local <br /> Government Investment Portfolios and Investment Pools." (See GFOA Recommended Practices in <br /> Appendix.)In defining market value,considerations should be given to the GASB Statement 31 <br /> • pronouncement. <br /> X. Policy Considerations <br /> 1. Exemption <br /> Any investment currently held that does not meet the guidelines of this policy shall be exempted <br /> from the requirements of this policy. At maturity or liquidation, such monies shall be reinvested <br /> only as provided by this policy. <br /> Alternative sample: <br /> Any investment currently held that does not meet the guidelines of this policy shall be temporarily <br /> exempted from the requirements of this policy. Investments must come in conformance with the <br /> policy within six months of the policy's adoption or the governing body must be presented with a <br /> plan through which investments will come into conformance. <br /> 2. Amendments <br /> This policy shall be reviewed on an annual basis. Any changes must be approved by the <br /> investment officer and any other appropriate authority, as well as the individuals charged with <br /> maintaining internal controls. <br /> XI. Approval of Investment Policy <br /> The investment policy shall be formally approved and adopted by the governing body of the [entity] and <br /> • reviewed annually. <br />
The URL can be used to link to this page
Your browser does not support the video tag.