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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 /> VII. GUIDELINES FOR INVESTMENTS IN SPECIAL PROJECTS OR PROGRAMS <br /> The City, from time to time,may authorize projects or special purpose financings to <br /> further a particular social or economic development program through the use of City <br /> funds as capital, collateral or financing. A typical program may entail depositing funds at <br /> local banks to support neighborhood lending or low-income housing. To carry out such <br /> projects or programs, City funds may be allocated to investments in local banking <br /> institutions or other investments that otherwise fall outside of this policy statement. The <br /> Treasury Manager is authorized to implement investment strategies in support of such <br /> projects or programs upon direction from the Director of the Office of Financial Services, <br /> with notification made to the City Council. All investments purchased under such <br /> programs must comply with Minnesota Statutes 118A, and investments that fall outside <br /> of this policy's portfolio weighting constraints require notification made to the Mayor <br /> and City Council prior to trade execution. <br /> VIII. COMPONENT PORTFOLIOS: OBJECTIVES,CONSTRAINTS AND AUTHORIZED <br /> INVESTMENTS • <br /> A. Daily Portfolio: The Daily Portfolio provides liquidity for operating expenses and <br /> other expenditures reflected in the annual Cash Flow Projection maintained by the <br /> Treasury Manager. The objectives are preservation of principal, liquidity to meet <br /> daily needs and a competitive yield as measured by the performance benchmark for <br /> the Daily Portfolio. <br /> 1. Minnesota Statutes: Investments shall satisfy Minnesota Statutes governing <br /> municipal investment, specifically Minnesota Statutes Chapter 118A, a copy of <br /> which is attached as Exhibit A. <br /> 2. Time Horizon: The Daily Portfolio is intended to fund daily withdrawals as well <br /> as planned withdrawals within a 12-month period. <br /> 3. Liquidity: Investments must provide liquidity as needed on a daily basis. <br /> 4. Risk Tolerance: Investments must satisfy liquidity requirements without risk of <br /> principal loss. <br /> • <br /> 12 <br />
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