Laserfiche WebLink
ETHICS AND CONFLICTS OF INTEREST <br /> Officers and employees involved in the investment process shall refrain from personal business <br /> activities which could conflict with proper execution of the investment program, or which could <br /> impair their ability to make impartial investment decisions. Employees and investment officials <br /> shall disclose to the City Council any material financial interests in financial institutions that <br /> conduct business with the City, and they shall further disclose any large personal, financial or <br /> investment position which could be related to the performance of the City's portfolio. Employees <br /> and officers shall. subordinate their personal investment transactions to those of the City <br /> particularly with regard to the timing of purchases and sales. <br /> REPORTING <br /> The Comptroller shall prepare and submit to the Treasurer a monthly investment report which <br /> shall describe the portfolio in terms of investment securities, maturities, cost by fund and <br /> amortization for that month. Interest earned each month shall be distributed to each applicable <br /> fund, based upon its daily cash position in its investments, after the end of the proceeding month. <br /> AMENDMENT <br /> This policy may be reviewed periodically by the City Council. Revisions shall be presented to <br /> the City Council for their approval as required. <br /> ' S <br />