Res 1996-214 - Laserfiche WebLink

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11fC- F. Securities dealers with whom the City conducts business shall be subject to established guidelines and criteria. G. The City will limit its purchase of investment securities to those which are of the highest quality, including, but not limited to, fully-collateralized time deposits in Texas banks and savings and loan associations, direct obligations of the government agencies, or purchase of such investment securities under the terms of repurchase agreements. III. CASH MANAGEMENT PROGRAMS AND ACTTVITIES ¥ The Department of Finance is committed to the overall success of the City's casD I I management programs. These programs address a variety of cash management issues, 1 including: A. The design and implementations of reliable and effective cash-flow .. forecasting methodologies which will assist Finance Department personnel in the determination of the amounts of cash available for investment, the time period for which the funds may be invested with a reasonable level of - confidence, and a measure of the volatility of specific forecasts, which will allow viable determination of the required liquidity which must characterize the specific investments. B. The design and implementation of appropriate "revenue acceleration: programs, aimed at enhancing the speed at which monies are collected and deposited by the City. C. The design and implentation of suitable "controlled disbprsement" programs, which will ensure that City expenses are met in timely manner, but not in such a way as to jeopardize the earning capacity of the City's cash management portfolio. D. The utilization of modern and efficient techniques for the physical movement of money, taking advantage of the technological and operational procedures which have evolved in recent years. E. The design and implementation of banking relationships which are both favorable to the City and responsive to the day-to-day requirements of the City's complex financial operations. F. The design of investment policies which will establish those policies and procedures which will ensure the total safety of all funds entrusted to - the and control of the Finance Department, while at the time care same allow the city to maximize its interest earnings. G. The design and implementation of appropriate policies and procedures with regard to the proper and effective use of the City's municipal credit authority. IV. CASH INVESTMENT POLICIES AND PROCEDURES Section 5 of Vernons Texas Civil Annoted Statutes states: "Inves.tments shall be made with judgment and care, under prevailing circumstances, that a person of prudence, discretion, and intelligence would exercise in the management of the person's own affairs, not for speculation, but for investment, considering the 2