(A) Generally. The investment portfolio will be managed in accordance with the parameters specified within this chapter. The portfolio should obtain a market average rate of return during a market/economic environment of stable interest rates. Portfolio performance should be compared to appropriate benchmarks on a regular basis.
(B) Market yield (benchmark). The city’s investment strategy is passive. Given this strategy, the basis used by the Finance Director to determine whether market yields are being achieved shall be the three-month U.S. Treasury Bill.
(Prior Code, § 38.15) (Ord. 99-286, passed 12-14-1999)