Municipalities

Here is a brief paragraph that explains Municipalities. Here are the items we cover:

• Municipalities often have both short-term and long-term needs which can affect their investment horizons. Therefore, portfolios are uniquely designed.

• The Investment Process starts with determining the municipalities needs. An emphasis is put on reviewing both short-term and long-term cash flows.

• An Investment Plan is prepared. The investment policy is reviewed and changes, if any, are recommended to the staff for implementation. Portfolio constraints are then discussed reviewing such items as credit quality, maturity limits and security diversification.

• The Investment Strategy is developed and reviewed with staff prior to implementation. Key items that are reviewed include the current budget, the capital improvement plan, scheduled tax payments and their timing, any Tax Increment Financing payments and Debt repayment schedules.

• The Investment Approach that is taken is to provide for Safety of Principal, Portfolio Diversification, Minimize Risk, create a Maturity Schedule that is known along with Cash Flows that are predictable.

• On going reporting is provided with monthly statements along with quarterly reports. Quarterly reports include a review of the portfolio and performance is compared to the appropriate benchmarks.

• The Quarterly Reports are presented to staff and reviewed.