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06-20-07 FPAC Minutes
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06-20-07 FPAC Minutes
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6/24/2024 4:07:07 PM
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11/9/2007 2:19:12 PM
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06-20-07 Minutes
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Minutes
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6/20/2007
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• <br /> INVESTMENT POLICY <br /> IX. Safekeeping <br /> Securities purchased shall be retained at the institution where the securities are <br /> purchased. <br /> X. Investment Parameters <br /> The City's investments shall be diversified as to specific maturity, issuer and institution <br /> in order to minimize overall risk to the portfolio. Investments shall be purchased to <br /> match expected cash flow needs, minimizing the market risk associated with selling an <br /> investment before its maturity date. <br /> To the extent possible,the City shall attempt to match its investments with anticipated <br /> cash flow requirements. Unless matched to a specific cash flow,the City will directly <br /> invest in securities with a stated maturity of less than seven years. <br /> Reserve funds and other longer-term investments may be invested insecurities exceeding • <br /> seven years if the maturity of such an investment is make to coincide as nearly as <br /> practicable with the expected use of such funds. <br /> Because of the inherent difficulties associated with accurately forecasting cash flow <br /> requirements, a portion of the portfolio should be continuously invested in readily <br /> available funds, such as money market funds. <br /> XI. Reporting and Review <br /> The investment officer shall prepare a monthly investment report and will be presented to <br /> the City Council as part of their packet materials. <br /> The City auditor shall review all City investments and report his findings in the City's <br /> annual financial statements. <br /> • <br /> 5 <br />
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