(a) From time to time, the Finance and Revenue Director shall submit to the Mayor and to the City Attorney a statement respecting moneys in the Municipal Treasury or in the process of collection and a schedule showing the probable requirements of money for the use of the City for a period of not less than six months, together with a summarization and estimate as to whether such surplus funds or any part thereof should be invested on behalf of the City. Acting jointly and unanimously, the Mayor, the City Attorney and the Finance and Revenue Director may from time to time order investment of all or part of such surplus funds as they deem advisable and in accordance with the provisions hereof.
(b) The Finance Committee of Council shall serve in an advisory capacity to such officials and shall be kept fully informed as to all actions taken under the provisions hereof.