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<br />1 <br /> <br />Ix. <br /> <br />I <br /> <br />. Predictive Value - The quality of information that helps users to increase the <br />likelihood of correctly forecasting the outcome of past or present events. <br /> <br />. Relevance - The capacity of information to make a difference in a decision by <br />helping users to form predictions about the outcomes of. past, present, and <br />future events or to confirm or correct prior expectations. <br /> <br />. Reliability - The quality of information that assures that information is <br />reasonably free from error and bias and faithfully represents what it purports <br />to present. <br /> <br />. Representational Faithfulness - Correspondence or agreement between a <br />measure or description and the phenomenon that it purports to represent <br />(sometimes called validity). <br /> <br />. Timeliness - Having information available to a decision-maker before it loses <br />its capacity to influence decisions. <br /> <br />. Understandability - The quality of information that enables users to perceive <br />its significance. <br /> <br />. Verifiability - The ability through consensus among measurers to insure that <br />information represents what it purports to represent or that the chosen method <br />of measurement has been used without error or bias. <br /> <br />TREASURY MANAGEMENT <br /> <br />A. Investments - The Director of Finance shall promptly deposit all City funds with the <br />City's depository bank in accordance with the provisions of the current depository bank <br />agreement. The Director of Finance will then promptly invest all funds in any negotiable <br />instrument that the City Council has authorized under the provisions of the State of Texas <br />Public Funds Investment Act and in accordance with the City Council approved <br />Investment Policy. <br /> <br />B. Cash - The City's cash flow will be managed to maximize the cash available to invest. <br />Such cash management will entail the centralization of cash collection centers such as <br />utility bills, building and related permits and licenses, parks and recreation, and other <br />collection offices where appropriate and feasible. <br /> <br />Idle cash position will be determined daily to maximize interest income. The underlying <br />theme will be that idle cash will be invested with the intent to 1) safeguard assets, 2) <br />maintain liquidity, and 3) maximize return. <br /> <br />The City Finance Department will use a facsimile check-signing machine, bearing the <br />signatures of the City Manager and Director of Finance. Internal c{)ntrols will be <br />established to secure this machine and to prevent its misuse. <br /> <br />City of San Marcos Financial Policy - Revised April 2005 <br /> <br />Page 13 <br />