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City of Roseville — 2012 Budget <br />Investment Policy <br />Purpose <br />The purpose of the Investment Policy is to ensure the most efficient use of the City's idle funds, and to <br />ensure the best return on these funds while making only those investments allowed by law. <br />Polic <br />❑ The City will make a cash flow analysis of all funds on a regular basis. Disbursement, collection, <br />and deposit of all funds will be scheduled to ensure maximum cash availability. <br />❑ When permitted by law, the City will pool cash from several different funds for investment <br />purposes. <br />❑ The City will invest 99 percent of its idle cash on a continual basis. <br />❑ The City will obtain the best possible return on all cash investments. Such investments will only <br />be those legally permissible under Minnesota law. <br />❑ The accounting system will provide regular information concerning cash position and investment <br />performance. <br />❑ The City will make arrangements for banking services on a contractual basis for a specified period <br />of three years, with specified fees for each service rendered. <br />❑ The City includes interest earnings and investment summaries as part of the Comprehensive <br />Annual Financial Report (CAFR). <br />Implementation <br />See Investment and Portfolio procedures. <br />Investment and Portfolio Procedures <br />Scope <br />These investment and portfolio procedures apply to the activities of the City with regard to investing the <br />financial assets of all funds, including the following: <br />❑ General Fund <br />❑ Special Revenue Funds <br />❑ Capital Project Funds <br />❑ Debt Service Funds <br />❑ Special Assessment Funds <br />❑ Internal Service Funds <br />❑ Trust and Agency Funds <br />Objectives <br />Funds of the City will be invested in accordance with Minnesota Statutes, Council- approved fiscal <br />policies and these administrative procedures. The City's investment portfolio shall be managed in a <br />manner to attain a market rate of return throughout budgetary and economic cycles while preserving and <br />protecting capital in the overall portfolio. <br />The market rate of return shall be to the same rate as the target portfolio. Investments shall be made <br />based on statutory and policy constraints. Funds held for future capital projects (i.e. bond proceeds) <br />shall be invested to produce enough income to offset increases in construction costs due to inflation. <br />117 <br />