RES012703A - Laserfiche WebLink

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VII. o Maximum Maturities To the extent possible, the City of University City/General Fund shall attempt to match its investments with anticipated cash flow requirements. Investments in bankers' acceptances and commercial paper shall mature and become payable not more than one hundred eighty days (180) from the date of purchase. All other investments shall mature and become payable not more than five (5) years fi'om the date of purchase. The City of University City/General Fund shall adopt weighted average maturity limitations that should not exceed three (3) years and is consistent with the investment objectives. Because of i~xherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds such as in bank deposits or overnight repurchase a~-eements or other overnight investments to ensure that appropriate liquidity is maintained to meet ongoing obligations. Reporting Methods The investment officer shall prepare an investment report at least quarterly, including a management summary that provides an analysis of the status o£the current investment portfolio and transactions made over the last quarter. This management summary will be prepared in a manner that will allow the City of University City/General Fund to ascertain whether investment activities during the reporting period have conformed to the investment policy. The report should be provided to the governing body of the City of University City/General Fund. The report will include the following: Listing of individual securities held at the end of the reporting period. Realized and unrealized gains or losses resulting from appreciation or depreciation by listing the cost and market value of securities over one- year duration (in accordance with Govermnent Accounting Standards Board (GASB) 30 requirements). [Note: this is only required annually.] Listing of investment by maturity date. Percentage of the total portfolio which each type of investment represents. Performance Standards' This investment portfolio will be managed in accordance with the parameters specified within this policy. The portfolio should obtain a market average rate of return during a market/economic environment of stable interest rates. A series of appropriate benc?u'narks may be established against which portfolio performance shall be compared on a regular basis.