Page 44 - CityofColleyvilleFY23AdoptedBudget

The Chief Financial Of cer and Accounting Manager shall issue a written report quarterly to the Audit
Committee and City Council concerning the City's investment transactions for the preceding quarter and
describing in detail the investment position of the City as of the end of the quarter indicating the market
values of all investments held during the quarter. The report shall list for each investment held during the
quarter: the purchase price of the investment, the par value of the investment, the market value of the
investment at the beginning of the quarter, market value of the investment at the end of the quarter, and fully
accrued interest for the period. The portfolio shall be marked to market monthly and market pricing
information is to be obtained through the use of appropriate external third party software, third party
safekeeping service, or a third party independent pricing service. This report shall be in compliance with
provisions of the Public Funds Investment Act, as amended. The report shall be signed by the Chief Financial
Of cer and Accounting Manager, as the investment of cers for the City, and state its compliance with the
Public Funds Investment Act and adopted investment policy strategy. The quarterly investment reports must
be reviewed annually by the City’s external audit rm as a part of the City’s annual audit and reported to the
City Council.

Training Requirements

In accordance with the Act (2256.005 and 2256.008), the Chief Financial Of cer and Accounting Manager shall
attend 10 hours of investment training within 12 months of assuming duties and 8 hours not less than once in a
twoyear period that begins on the rst day of the City’s scal year and consists of the two consecutive scal
years after that date. Both the Chief Financial Of cer and Accounting Manager shall complete ten hours of
training every two years as required by the Public Funds Investment Act. This training may be obtained from
the following sources: North Central Texas Council of Governments, Government Treasurer's Organization of
Texas, Government Finance Of cer's of Texas, Texas Municipal League or the University of North Texas Center
for Professional Development. The training must include education in investment controls, security risks,
strategy risks, market risks, and any other topics as required by the Public Funds Investment Act.

GLOSSARY

AGENCIES - Federal agency securities and/or Government-sponsored entities.

BENCHMARK – A comparative base for measuring the performance or risk tolerance of the investment
portfolio. A benchmark should represent a close correlation to the level of risk and the average duration of the
portfolio’s investments.

BROKER – A broker brings buyers and sellers together for a commission.

CERTIFICATE OF DEPOSIT – A time deposit with a speci c maturity evidenced by a certi cate. Large-
denomination CD’s are typically negotiable.

COLLATERAL – Securities, evidence of deposit, or other property which a borrower pledges to secure
repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies.

DEALER – A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own
account.

DELIVERY VERSUS PAYMENT – Delivery verses payment is the delivery of a security and there is an exchange of
money after the delivery of the security.

City of Colleyville | Budget Book 2023 Page 44