The City Treasurer shall have the following duties:
(a) Maintain a current listing of Depositories, Custodians, Securities Dealers and financial institutions from which it may acquire Authorized Investments.
(b) Except with respect to the Federal Reserve Bank, the State Treasurer or the City Treasurer serving as a Custodian, receive and review financial statements of all Depositories and Custodians. If any such financial statement is not received on a timely basis, the City Treasurer shall promptly notify the entity failing to provide such statements of that failure. Any Depository or Custodian not providing the required statement within ten (10) business days after such notice shall immediately be removed from the list maintained pursuant to paragraph (1) of this Section, and the City Treasurer shall immediately withdraw any Demand Deposits held by that Depository or Custodian. In the case of a Depository, Custodian or an institution having all of the qualifications of a Depository except that it may have an office in the State rather than in the City, a timely basis shall mean within sixty (60) days following the end of each calendar quarter.
(c) On or before the fifth business day of each month, report to City Council the status of the Investment Portfolio as of the last business day of the preceding month, showing at least the type, name of issuer, maturity, yield and safekeeping location of all Authorized Investments as well as the amount of non-interest-bearing Demand Deposits held by each Depository.
(d) On or before the fifth business day of each month, prepare a summary for each and every transaction of Authorized Investments purchased and sold during the prior calendar month. Copies of this report shall be delivered or sent by first class mail to City Council, the City Auditor, the State Auditor and any independent auditors which the City or State has then employed as well as to each member of the Investment Advisory Committee. This report shall include the following information:
(1) Amount of each Authorized Investment
(2) Security type
(3) Name of issuer
(4) Maturity
(5) Yield
(6) Custodian of the Authorized Investment
(7) Custodian of Eligible Collateral if applicable.
(Ord. 334-00. Passed 6-6-00.)