(a) The Treasurer shall manage the City's deposits and investments on a day-to-day basis.
(b) The Treasurer shall be responsible for all depository functions and shall authorize and approve the deposit of all active moneys. Deposits shall be restricted to those accounts and classifications of obligations as set forth in Section 155.07 of this chapter.
(c) The Treasurer shall have the authority to purchase and sell all deposits and investments, on an as needed basis, consistent with the policies and procedures established by the Investment Board and this chapter. Any purchase or sale of deposits and investments by the Treasurer is subject to review by the Investment Board and Council. The Investment Board and Council shall have the authority to order the purchase or sale of any investments.
(d) The Treasurer shall provide monthly and year-end reports to the Investment Board, Auditor and Council, listing all matured, purchased and outstanding investments of City moneys. The Treasurer shall provide confirmation copies of all purchases and sales of investments to the Auditor immediately upon their receipt and such other documentation as the Auditor may require to audit the investment records. The Treasurer shall report to the Investment Board any substantial decrease in the market price or, in his judgment, any substantial increase in the credit risk, of any eligible investment held by the City. The Treasurer shall maintain all records of all investments and deposits.
(Ord. 45-2014. Passed 3-10-14.)