(A) The Investing Officer shall maintain an inventory of all obligations and securities and shall provide quarterly investment reports to the Mayor detailing the following types of information: types of investments, depository institutions, principal balances, maturity dates, rates of return, purchases and sales.
(B) The Investing Officer shall make an annual written report to the Town Council summarizing the town's investments during the previous calendar year. The report must contain the name of each financial institution, government agency or instrumentality, or other person with whom the town invested money during the previous calendar year. The Town Council shall review the report and review the town's overall investment policy.
(C) The Investing Officer shall review this policy at least annually and propose such changes to safeguard funds on behalf of the town, to assure the availability of funds when needed, and to provide a competitive investment return.
(Ord. 2023-49, passed 12-18-2023; Ord. 2024-13, passed 5-20-2024)