(A) Monthly report. By law, the Treasurer must issue a monthly report to the chief executive officer and legislative body of the city showing the type of investment, institution, date of maturity, amount of deposit, current market value for all securities with a maturity of more than 12 months, rate of interest and other relevant data that may be requested.
(B) Annual report and review. The Treasurer shall prepare an annual report for review with the legislative body showing average daily funds invested by portfolio, interest earned, portfolio yield and average life. The report will include yields on other comparable portfolios for comparison purposes. Other topics for discussion will include the general condition of the portfolio, outlook for future interest rates and planned strategy for executing investment transactions. Such reviews and evaluations should result in a uniform portfolio administration policy.
(Ord. 342, passed 12-15-1987)
Statutory reference:
Similar provisions, see Cal. Gov’t Code § 53646(b)(1)