(A) Methods. The Finance Director or his or her appointed designee will submit a quarterly investment report which discloses investments on the last day of the quarter. This report will be distributed to the Town Manager and Town Council members. The Finance Director or designee will present at least annually the investment report to the Town Council.
(B) Performance standards. The investment portfolio will be managed in accordance with the parameters specified within this policy. The portfolio should obtain a market average rate of return during a market/economic environment of stable interest rates. Portfolio performance should be compared to appropriate benchmarks on a regular basis.
(C) Marking to market. A statement of the market value of investments having a remaining maturity exceeding two years shall be issued at least quarterly. This will ensure that the minimal amount of review has been performed on such long term investments in terms of value and subsequent price volatility.
(D) Monitoring and adjusting portfolio. The Finance Director or his or her appointed designee will routinely monitor the contents of the portfolio, the available markets and the relative values of competing instruments, and will adjust the portfolio accordingly.
(Ord. 3(1997) § 1; Ord. 24(2016) §§ 11, 12)