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6.1 B <br />Page 7 <br />Investment Policy <br />May ~-488-2~'(0 P'age 6 of 6 <br />Current Fed Funds Rate as of the last day of the month. (Any new investments made <br />during the month which indicates an interest rate varying from the Fed Funds Rate by <br />2% or more must be explained.) <br />Certification signed by the Treasurer and Deputy Treasurer stating ...."These are all the <br />securities in which the City funds, including all Trust Funds and Oversight Agencies are <br />invested (excluding. approved deferred compensation plans) and all of these <br />investments are in compliance with the City 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 flow. <br />Listing of ail brokers and total business transacted during the month. <br />XII. INVESTMENT CONTRACT <br />All investment contracts shall be routed through the City Attorney's office prior to signing by the <br />Treasurer. <br />XIII. CONTINUING EDUCATION <br />The Treasurer and Deputy Treasurer shall attend investment training at least once a year. <br />XIV. WIRE TRANSFERS <br />AI[ wire transfers exceeding $250,000 must be authorized by at least two members of the staff. <br />XV. INTERNAL CONTROLS <br />A Finance Department staff member who is not involved in the purchase of investments, wire <br />transfers, or maintaining the general ledger shall be designated the responsibility of reviewing <br />and reconciling the monthly reports received from brokers and dealers. This review shall <br />include, but not be limited to, reconciling the listing and amounts of each investment as <br />submitted by the dealer/broker with the records maintained by the Treasurer. Each month, the <br />same staff person will also confirm the interest receivable amounts and schedules prepared by <br />the Treasury staff and compare these items with those submitted by the broker/dealer. <br />XVI. SAFEKEEPING OF SECURITIES <br />All securities owned by the City, excluding Certificates of Deposit, shall be held in safekeeping <br />by a third party administrator (custody bank or trust department} acting as agent for the City <br />under the terms of a custody or trustee agreement executed by the bank and the City. Ail <br />securities will be received and delivered using the standard delivery versus payment (DVP} <br />procedure. <br />