A. The purpose of this investment policy is to establish cash management and investment guidelines for the stewardship of public funds under the jurisdiction of the treasurer. The specific objectives of this investment policy are as follows:
1. Legality: Conformance with federal, state and other legal requirements.
2. Safety: Preservation of capital and protection of investment principal.
3. Liquidity: Maintenance of sufficient liquidity to meet operating requirements.
4. Yield: Attainment of market rates of return.
5. Public Confidence: The treasurer shall avoid any transaction that might impair public confidence.
6. Community Involvement: The treasurer will give consideration to the financial institution's positive community involvement when considering financial institutions to be used as depositories.
7. Investment Timing:
a. All funds will be invested for a period of one day or longer, depending on the requirement for the disbursement of funds.
b. All funds shall be deposited within two (2) working days at prevailing rates or better in accordance with Illinois Compiled Statutes.
B. The portfolio should be reviewed periodically as to its effectiveness in meeting the village needs for safety, liquidity, rate of return, diversification and its general performance. (Ord. 99-23, 12-8-1999)