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<br />STATEMENT OF CASH MANAGEMENT AND INVESTMENT POLICIES <br /> <br />CITY OF SAN MARCOS <br />DEPARTMENT OF FINANCE <br /> <br />I. <br /> <br />INTRODUCTION <br /> <br />The City Manager is authorized and required to make rules and <br />regulations and to establish administrative policies and procedures <br />relating to the cash management and investment policies of the City. <br /> <br />It is anticipated that this policy statement will be reviewed and <br />evaluated on a regular basis, to ensure that the policies and procedures <br />expressed herein are responsive to the prevailing cash management and <br />investment environment. Since this environment is subject to constant <br />change, care must be taken to ensure that such responsiveness is <br />maintained. This policy statement must, therefore, be appropriately <br />amended, expanded, or purged on a continuing basis. <br /> <br />If any changes are contemplated which substantially alter the intent and <br />purpose of these policies, other than to effect further administrative <br />or procedural efficiencies, the Director of Finance will discuss such <br />changes with the City Manager, as well as other legislative or <br />administrative officers of the City who have a direct and reasonable <br />interest in such changes. <br /> <br />II. <br /> <br />GENERAL POLICIES <br /> <br />A. <br /> <br />B. <br /> <br />In general, the cash management activities of the City of San, <br />Marcos shall be conducted in a manner which is consistent with <br />prevailing prudent business practices which may be applied by <br />other organizations of similar size and financial resources, <br />in compliance with appropriate State statutes. <br /> <br />Investments of the City, or of funds held in its possession in <br />a fiduciary capacity, shall be made with the exercise of that <br />judgment and care, under circumstances then prevailing, which <br />men of prudence, discretion, and intelligenc~ exercise in the <br />management of their own affairs, not for speculation, but for <br />investment, considering the probable safety of their capital, <br />as well as the probable income to be derived.. <br /> <br />C. <br /> <br />Any rules and policies promulgated by the City Manager shall <br />be designed in the best interest of the City and its citizens, <br />and shall not afford special financial advantage to any <br /> <br />1 <br />