a) Manage the city's investment portfolio on a daily basis pursuant to the specific, stated investment objectives. Evaluate orders and recommend the purchase and sale of securities. Communicate (via email) settlement information to the City staff and investment custodian, and assist in coordinating security settlement. b) Maintain documentation of at least three (3) bids, as applicable, in accordance with the City's investment policy. c) Serve as a general resource to the City staff for information, advice, and training regarding fixed income securities, investments, and treasury operations. d) Work with City staff to develop cash flow projections to ensure the investment strategy is consistent with the City's cash requirements and provide recommendations for change. e) Provide monthly statements on investment activity, earnings, and the investment portfolio's value. These reports must include a market-to-market valuation as GASB 31, 40, and 72 requires. Monthly, an Excel file of the City's holdings must also be emailed to the City's Finance Director or designee. The elected investment manager must maintain accurate reports of investments and ensure compliance with the city's investment policy. f) Provide quarterly investment reports to the City's Finance Director or designee, including a description of market conditions, investment strategies employed, economic and market outlook, performance against established benchmarks, and suggested changes to investment strategy, as applicable. Investment Manager will be provided a copy of the City's internally managed investments every quarter and will be required to incorporate the results of that internal activity in calculating overall investment yield for the quarter, as well as for the fiscal year to date. The City's fiscal year runs from October 151 through September 3ot11. The investment manager may report the activity for the portfolio they manage and those. managed by the City separately, and then report the activity collectively in a summary. g) The Investment Manager will be required to submit annual reports to the City by November 10th of each year, including a review of the fiscal year's performance. In addition, the investment manager will be required to provide an Excel file of GASB 40 required disclosure information for reporting in the City's Annual Comprehensive Financial Statement (ACFS). Such information will be reported by investment type to indicate maturity buckets and should include the book value and market value of investments as of September 30th. h) Notify City's Finance Director (or designee) in writing (email is acceptable) of any downgrade below the minimum required rating on any City investment holding, indicating the rationale for continuing to hold that investment or for selling that investment. i) Provide an online reporting platform to allow the City to have access to its portfolio activity at all times. j) Make presentations to City staff or the City Commission, as requested by the City Commission or City staff. k) Assist in risk control to ensure the city's assets' ongoing safety, which are unrelated to market risk.
