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INVESTMENT POLICY ;2 S <br /> X. Investment Parameters <br /> The City' s investments shall be diversified as to specific <br /> maturity, issuer and institution in order to minimize <br /> overall risk to the portfolio. Investments shall be <br /> purchased to match expected cash flow needs, minimizing the <br /> market risk associated with selling an investment before its <br /> maturity date. <br /> To the extent possible, the City shall attempt to match its <br /> investments with anticipated cash flow requirements. Unless <br /> matched to a specific cash flow, the City will directly <br /> invest in securities with a stated maturity of more than <br /> seven years. <br /> Reserve funds and other longer-term investments may be <br /> invested insecurities exceeding seven years if the maturity <br /> of such an investment is make to coincide as nearly as <br /> practicable with the expected use of such funds . <br /> Because of the inherent difficulties associated with <br /> accurately forecasting cash flow requirements, a portion of <br /> the portfolio should be continuously invested in readily <br /> available funds, such as money market funds. <br /> XI. Reporting and Review <br /> The investment officer shall prepare an investment report <br /> and present it to the City Council one time per year. <br /> The City auditor shall review all City investments and <br /> report his findings in the City' s annual financial <br /> statements. <br /> 5 <br />