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Investment Policies <br />PURPOSE <br />To ensure the most efficient use of the City’s idle funds, and to ensure the best return on these funds while <br />making only those investments allowed by law. <br />POLICY <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 <br />period 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 />II-2 I <br /> <br />