(A) To avoid incurring unreasonable risks inherent in over-investment in specific instruments, individual financial institutions, dealers or maturities, the Fiscal Officer will diversify the active portfolio as follows:
Instrument Type | Maximum Percent of Active Portfolio | Maximum Percent of Portfolio by Obligor |
U.S. Treasury obligations | 100% | 100% |
Authorized U.S. Federal Agency Securities and U.S. government-sponsored corporations and instrumentalities | 100% | 50% |
Nonnegotiable certificates of deposit | 100% | 50% |
State of Ohio Treasurer’s Investment Pool (STAR Ohio) | 100% | 100% |
(B) With regard to secondary market securities, no more than 50% of the village's active portfolio at any point in time will have been purchased through any one broker/dealer.
(C) No transaction needs to be executed when, through inadvertence or unusual circumstances, a maturity in the active portfolio causes the percentage of a type or category of investment to exceed the diversification limits set forth above. Any transactions after such infraction shall work toward returning to compliance.
(D) The Treasury Investment Board may set lower limits on the amount of funds which can be placed at any investment category.
(Ord. 98-6-7, passed - -98)