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iq <br /> The investment portfolio/rate of return: (12/31/97) <br /> 1) Money Market Savings $ 1,100,078 5.13% <br /> 2) General City Investments $ 2,091,196 6.32% <br /> 3) HRA Investments $ 2,629,579 7.52% <br /> 4) Water Filtration Funds $ 4,413,315 6.01% <br /> $10,234,168 <br /> Value/Tracking of the portfolio: <br /> At the end of 1997, the total fund balances on all City Funds totaled $12,581,163 of <br /> which $10,234,168 was invested. The market value of the portfolio at year-end was <br /> $10,346,263, which is $112,595 higher than the book value and is a sound indictor of <br /> the quality of the investments. <br /> The book value to market value is tracked monthly. Spreadsheets are used to compare <br /> the current book value to market value to determine if capital gains are present and <br /> should be realized. <br /> Investment Policy: (See Attached) <br /> The City's investment policy applies to the investment of long and short term operating <br /> funds of the City of St. Anthony. The scope of the policy includes: <br /> 1) Objectives: <br /> A) Safety of Principal <br /> B) Liquidity <br /> C) Yield <br /> 2) Standards of Care: <br /> A) Prudent Person Rule <br /> a) Not taking risk to jeopardize the safety of public <br /> funds. <br /> 3) Ethics: <br /> A) Conflicts of interest <br /> 4) Delegation of Authority: <br /> A) Finance Director <br /> B) City Manager <br />