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• e. Review of the balances in the Component Portfolios for sufficiency in relation <br /> to the Cash FIow Projection. <br /> 3. Review of Investment Managers:The Treasury Manager will meet with the <br /> Investment Managers annually to review strategy and confirm that the managers <br /> continue to satisfy Investment Manager selection criteria in this IPS. <br /> 4. Review of Investment Fees and Expenses: The fees and expenses associated with <br /> the investment program will be reviewed at least annually to ensure they are <br /> reasonable and competitive. <br /> VI. GENERAL INVESTMENT OBJECTIVES,CONSTRAINTS AND GUIDELINES <br /> The goals of the City for the Portfolio are to preserve financial assets for future operating <br /> expenses, maintain reserves to fund unplanned shortfalls and generate income to support <br /> the activities of the City. The investment objectives in support of these goals are as <br /> follows: <br /> • <br /> A. Safety: Safety of principal,by mitigating credit risk and interest rate risk, is the <br /> foremost objective of the investment program. <br /> 1. Credit Risk: Credit risk(the risk of loss due to the failure of the security issuer or <br /> backer)will be minimized by: <br /> a. Limiting investments to issues of(or backed by)the U.S.Government, its <br /> agencies or instrumentalities, States and Municipalities. <br /> b. Using only those financial institutions, broker/dealers, intermediaries and <br /> advisers approved by the City. <br /> c. Diversifying investments so that potential losses on individual securities of a <br /> single issuer will be minimized. <br /> • 10 <br />