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�•�� �� <br /> The City Counci! Finance Committee will meet as needed (at least once a year) to <br /> insure thaf City investments are consistent with the adopted policy and ro consider <br /> changes in the policy if deemed necessary. <br /> Pursuant to the Redwood City Code Section 2.33.2 and State law Council will receive a <br /> detailed monthly listing of all investments in the City po►tfolio. This report shall also <br /> include: <br /> Current Fed Funds rate as of the /ast day of the month. Any new investments <br /> made during the month which indicates interest rate higher by 2% must be <br /> explained. . <br /> Certification signed by the Treasurer and Deputy Treasurer stating .... "These are <br /> all the securities in which the City funds, including all Trust Funds and Oversight <br /> Agencies are invested (excluding approved deferred compensation plans) and all <br /> of these investments are in compliance with the Cify policy'; <br /> Certification signed by the Treasurer and Deputy Treasurer that sufficient liquid <br /> resources (including maturities) are available to meet the next six months cash <br /> � flow: <br /> Listing of al/ brnkers and total business transacted during the month. <br /> XII. INVESTMENT CONTRACT <br /> All investment contracts shall be routed through the City Attomey's office prior to signing <br /> by the Treasurer. <br /> XIII. CONTINUING EDUCATION <br /> The Treasurer and Deputy Treasurer shall attend investment training at least once a <br /> year. <br /> XIV. WIRE TRANSFERS <br /> All wire transfers exceeding $250, 000 must be authorized by at least two members of <br /> the staff. <br /> XV. INTERNAL CONTROLS <br /> A Finance Department staff inember who is not involved in the purchase of investments, <br /> wire transfers, or maintaining the general ledger shall be designated the responsibility of <br /> reviewing and reconciling the monthly reports received from brokers and dealers. This <br /> review shall include, but not be limited to, reconciling the listing and amounts of each <br /> investment as submitted by the dealeNhroker with the records maintained by the <br /> Treasurer. Each month, the same staff person will also con�rm the interest receivable <br /> Investment Policy <br /> Page 6 <br /> _ _ , _._ _ ..�_ .. _... � . <br />