Res 2005-047 - Laserfiche WebLink

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· Timeliness - Having information available to a decision-maker before it loses its capacity to influence decisions. · Understandability - The quality of information that enables users to perceive its significance. · Verifiability - The ability through consensus among measurers to insure that information represents what it purports to represent or that the chosen method of measurement has been used without error or bias. WbX TREASURY MANAGEMENT A. Investments - The Director of Finance shall promptly deposit all City funds with the City's depository bank in accordance with the provisions of the current depository bank agreement. The Director of Finance will then promptly invest all funds in any negotiable instrument that the City Council has authorized under the provisions of the State of Texas Public Funds Investment Act and in accordance with the City Council approved Investment Policy. B. Cash - The City's cash flow will be managed to maximize the cash available to invest. Such cash management will entail the centralization of cash collection centers such as utility bills, building and related permits and licenses, parks and recreation, and other collection offices where appropriate and feasible. Idle cash position will be determined daily to maximize interest income. The underlying theme will be that idle cash will be invested with the intent to I) safeguard assets, 2) maintain liquidity, and 3) maximize return. The City Finance Department will use a facsimile check-signing machine, bearing the signatures of the City Manager and Director of Finance. Internal controls will be established to secure this machine and to prevent its misuse. The City Manager, Director of Administration, Director of Finance and Assistant Director of Finance are authorized signatories on all City depository bank accounts. Any withdrawal, transfer or payment of City funds requires a minimum of two signatures. City of San Marcos Financial Policy - Revised April 2004 Page ] 4