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1mvsknent Pd y <br />Page 6 or 6 <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 />All 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. All <br />securities will be received and delivered using the standard delivery versus payment (DVP) <br />procedure. <br />