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06-20-07 FPAC Minutes
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06-20-07 FPAC Minutes
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06-20-07 Minutes
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6/20/2007
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• <br /> C. Cash Manager <br /> The duties and responsibilities of the Cash Manager under this IPS are to: <br /> 1. Invest the assets of the Daily Portfolio and the Short Term Portfolio in accordance <br /> with IPS standards and guidelines. <br /> 2. Prepare cash flow projections to determine daily excess cash to invest in short <br /> term securities or money market funds for operating needs. <br /> 3. Obtain competitive bids and offerings of securities to be purchased or sold. <br /> 4. Verify investment activity in the bank accounts. <br /> 5. Maintain and balance the Treasury subsidiary investment ledger. <br /> 6. Verify broker confirmations to the subsidiary investment ledger. <br /> 7. Allocate interest earnings to the accounts participating in the pooled investment <br /> program. <br /> 8. Report investment activity to the Treasury Manager. <br /> • 9. Prepare annual reports in compliance with GASB standards. <br /> D. Investment Consultant <br /> An Investment Consultant may be retained by the City to provide investment advice <br /> and assistance regarding the investments. Specific responsibilities of the Investment <br /> Consultant may include: <br /> I. Assist with the development and periodic review of investment policies and <br /> procedures. <br /> 2. Conduct searches for investment managers or mutual funds. <br /> 3. Quarterly,measure and evaluate performance results for the total portfolio and for <br /> each separately-managed portfolio. <br /> 4. Evaluate compliance of investments with IPS guidelines and report results to the <br /> Treasurer. <br /> 5. Analyze investment expenses and negotiate any investment management or <br /> custodial fees as requested. <br /> • 6 <br />
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