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CITY INVESTMENTS <br />As of April 30, 2007, the City had a total of $18,994,265, invested in the following manner: <br />Checking /CDs /money market <br />U.S. treasuries and agencies <br />Government mutual funds <br />Bonds <br />Total <br />$ 9,026,417 <br />7,832,429 <br />1,498,419 <br />637,000 <br />$18,994,265 <br />Percent of <br />Portfolio <br />47.52% <br />41.24 <br />7.89 <br />3.35 <br />100.0% <br />In October 1997, the City adopted an investment policy that is in accordance with Minnesota <br />Statutes 118A. Some highlights of the City's investment policy are as follows: <br />1. The primary objective is the safety of the principal. Investments shall be undertaken <br />in a manner that seeks to ensure the preservation of capital in the overall portfolio. <br />The objective will be to mitigate credit risks and interest rate risk. <br />a. Investments will be limited to those investments specified in Minnesota <br />Statutes 118A. <br />b. Annually appointing the financial institutions, brokers /dealers, intermediaries <br />and advisors. <br />c. Diversifying the investment portfolio so that potential losses on individual <br />securities will be minimized. <br />d. Investing funds in primarily shorter -term securities. <br />2. The secondary objective is to have the portfolio remain sufficiently liquid to meet all <br />operating requirements that may be reasonably anticipated. <br />3. The third objective is to attain a market rate of return through budgetary and economic <br />cycles, taking into account the investment risk constraints and liquidity needs. <br />4. The Finance Director and his /her appointed employees in case of unavailability are <br />authorized to manage the investment program. A system of internal controls shall be <br />followed and shall be designed to prevent losses from theft or misuse to provide <br />reasonable assurance that the objectives are met. <br />5. The Finance Director will prepare an investment report <br />Administrator. <br />6. All City Funds must be invested with financial institutions <br />investment services per statute 118A.06, with representatives <br />with institutions which have a minimum capital requirement of <br />five years of operation. <br />monthly for the City <br />authorized to provide <br />who are licensed and <br />$5 million and at least <br />