(A) The City Clerk/Treasurer shall prepare and submit to the governing body a quarterly report regarding the status of the entity’s investment program. As to each investment, the 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; and
(6) Current market value of the investment.
(B) In addition, the report shall explain the quarter’s total investment return and compare the return with budgetary expectations.
(C) The quarterly report shall also summarize recent market conditions, economic developments and anticipated investment conditions, and indicate any areas of policy concern and suggested revisions of investment strategies. Copies of the report shall be submitted to each member of the governing body and the chief executive officer of the city.
(Ord. 94-38, passed 11-8-94)