(A) The City Treasurer shall prepare and submit a written report on a quarterly basis to the City Commission regarding the status of the city’s investment program. As to each investment, the quarterly report shall include the following information:
(1) Name of financial institution from which the investment was purchased or in which assets are deposited;
(2) Type of investment;
(3) Certificate or other reference number, if applicable;
(4) Percentage yield on an annualized basis;
(5) Purchase date, purchase price, and maturity date;
(6) Current market value of the investment; and
(7) Certification that the investment is permissible under the authority of KRS 66.480.
(B) In addition, the report shall explain the quarter’s total investment return and compare this return with budgetary expectations. Summaries of recent market conditions and economic developments, as well as suggested changes in the investment strategy, should also be included in the report.
(Ord. 1B-1994, passed 12-13-1994)