Page 305 - City of Colleyville FY22 Adopted Budget

the marketability of the investment if the need arises to liquidate the
investment before maturity.

Liquidity: The City will also maintain sufficient liquidity to provide adequate
and timely working funds.

Yield: The investment portfolio shall be designed with the objective of
obtaining a reasonable market rate of return throughout budgetary and
economic cycles within the parameters imposed by its safety and liquidity
objectives, investment strategies, and state and local law. The weighted
average return on thirteen-week Treasury bills is considered a benchmark for
riskless investment transactions, and therefore, is a minimum standard for
the portfolio's rate of return.

Delegation of Authority

The City designates the Investment Officers to be the Director of Finance, with
overall responsibilities to see that investment objectives are accomplished,
and the Accounting Manager, with the specific day-to-day performance of
managing the funds of the City.

Ethics and Conflict of Interest

All Investment Officers and employees involved in the investment process
shall refrain from personal business activity that could conflict with proper
execution of the investment program, or that could impair their ability to make
impartial investment decisions. Investment Officers shall disclose to the City
Council and Texas Ethics Commission a statement under the following
conditions:

A. If they have a personal business relationship with a business
organization offering to engage in an investment transaction with the
entity. Under PFIA, a personal business relationship is defined as:

1. The investment officer owns 10 percent or more of the voting
stock or shares of the business organization or owns $5,000 or
more of the fair market value of the business organization:

2. Funds received by the investment officer from the business
organization exceed 10 percent of the investment officer's gross
income for the previous year; or

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