(a) Authority. The Director of Finance is authorized to invest the monies in the treasury of the City through investment programs provided to Ohio municipal corporations by the State of Ohio, including but not limited to State Treasury Asset Reserve Ohio (“STAR Ohio”), State Treasury Asset Reserve Plus (“STAR Plus”), and similar case management programs provided by the State of Ohio, and to manage those City treasury monies in a secure but effective manner.
(b) Reporting. The Director of Finance is charged with the responsibility of providing reports on investment activity and returns on the pooled balance of the funds. The market value of the portfolio shall be calculated at least quarterly and a statement of the market value of the investment portfolio shall be issued at least quarterly by the Director of Finance. The purpose of report is to ensure that review of the investment portfolio, in terms of value and price volatility, has been performed consistent with the Government Finance Officers Association’s Recommended Practices. The foregoing reports shall be prepared on a quarterly basis, and submitted to the Finance Committee of City Council.
(c) Continuing Education. The Director of Finance will annually complete the public investing continuing education program provided by the Treasurer of the State of Ohio.
(Ord. 99-2017. Passed 10-24-17.)