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VI. Investment Parameters <br />1. Diversification The investments shall be diversified by: <br />* limiting investments to avoid over concentration in securities from a <br />specific issuer or business sector (excluding U.S. Treasury securities), <br />* limiting investment in securities that have higher credit risks, <br />VII. Reporting <br />1. Methods The investment officer shall prepare an investment report monthly that is <br />given to the City Administrator. Annually, investments are audited for legality and generally <br />accepted accounting practices by an independent auditor. <br />2. Performance Standards The investment portfolio will be managed in accordance <br />with the parameters specified within this policy. The portfolio should obtain a market average <br />rate of return during a market/economic environment of stable interest rates. <br />VIII. Policy Considerations <br />1. Exemption Any investment currently held that does not meet the guidelines of this <br />policy shall be exempted from the requirements of this policy. At maturity or liquidation, such <br />monies shall be reinvested only as provided by this policy. <br />2. Amendments This policy shall be reviewed on a regular basis. Any changes must be <br />approved by the investment officer and any other appropriate authority,. as well as the <br />individual(s) charged with maintaining internal controls. <br />IX. List of Attachments <br />The following documents, as applicable, are attached to this policy: <br />* Relevant investment statutes and ordinances. <br />* Listing of authorized broker/dealers and financial institutions. <br />* Resolution adopting current policy. <br />4 <br />