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PraFf 414, <br /> • CITY OF <br /> DEPARTMENT OF FINANCE <br /> STATEMENT OF INVESTMENT POLICY <br /> 1. POLICY <br /> It is the policy of the City to invest public funds in a manner which maximizes return and <br /> provides maximum security in preserving and protecting funds while meeting the daily cash flow <br /> demands and conforming to all applicable federal, state and/or local statutes governing the <br /> investment of public funds. <br /> 2. SCOPE <br /> This investment policy applies to all financial assets of the City of (the "City") <br /> except those (if any) which are governed in another manner by specific reference in federal, state <br /> and/or local statutes. All assets to which this policy applies are accounted for in the City's <br /> comprehensive annual financial report and include: <br /> • <br /> General Fund <br /> Special Revenue Funds <br /> Debt Service Funds <br /> Capital Project Funds <br /> Enterprise Funds <br /> Trust and Agency Funds <br /> Internal Service Funds <br /> Any other newly created fund <br /> 3. STANDARDS <br /> The Finance Director is responsible for implementing this policy. The standard of <br /> prudence to be used shall be the "Prudent Investor rule," an will be applied in the context of <br /> managing an overall portfolio: "investments shall be made with judgment and care - under <br /> circumstances then prevailing - which persons of prudence, discretion and intelligence exercise in <br /> the management of their own affairs, not for speculation, but for investment, considering the <br /> probable safety of their capital as well as the probable income to be derived." <br /> City employees meeting this standard will be relieved of personal responsibility for an <br /> individual security's credit risk or market price changes, provided deviations from expectations are <br /> • reported in a timely fashion and appropriate action is taken to control adverse developments. <br /> 1 <br />