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I I I Predictive Value - The quality of information that helps users to increase the likelihood of correctly forecasting the outcome of past or present events. Relevance - The capacity of infonTIation to make a difference in a decision by helping users to fonn predictions about the outcomes of past, present, and future events or to confinn or correct prior expectations.' Reliability - The quality of infonTIation that assures that information is reasonably free from error and bias and faithfully represents what it purports to present. Representational Faithfulness - Correspondence or agreement between a measure or description and the phenomenon that it purports to represent (sometimes called validity). . Timeliness - Having information available to a decision-maker before it loses its capacity to influence decisions. Understandability - The quality of infonTIation that enables users to perceive its significance. . Verifiability - The ability through consensus among measurers to insure that infonTIation represents what it purports to represent or that the chosen method of measurement has been used without error or bias. X 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 lnvestment 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 detennined daily to maximize interest income. The underlying theme will be that idle cash will be invested with the intent to 1) 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. City of San Marcos FinancIal PolIcy - ReVIsed April 2005 Page 13