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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 />Policv <br />❖ The City will make a cash flow analysis of all funds on a regular basis. Disbursement, <br />collection, 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 <br />only be those legally permissible under Minnesota law. <br />•3 The accounting system will provide regular information concerning cash position and <br />investment performance. <br />❖ The City will make arrangements for banking services on a contractua] 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 />Im�lementation <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 <br />the financial assets of all funds, including the following: <br />.;. <br />.;. <br />.;. <br />.;. <br />.;. <br />.;. <br />.;. <br />General Fund <br />Special Revenue Funds <br />Capital Proj ect Funds <br />Debt Service Funds <br />Special Service Funds <br />Internal Service Funds <br />Trust and Agency Funds <br />Page 9 of 19 <br />