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OBJECTIVES. RISK. & DIVERSIFICATION <br />The objectives of the investment program are as follows in order of priority: <br />• SAFETY OF PRINCIPAL <br />• LIQUIDITY <br />• SUITABILITY <br />• YIELD <br />All investments contain an element of risk. The different types of risk include credit risk, <br />custodial risk, concentration risk and interest rate risk. The recommended policy is <br />designed to establish a very low tolerance for risk with safety of principal being paramount <br />as a guiding principal and objective. <br />The investment policy has been revised to allow sixty days (rather than thirty days) after <br />each month-end to submit the investment report to the City Council. This monthly report <br />provides Council with the status of the City's investment portfolio. Staffs current practice is <br />to furnish the report to the Council within sixty days since the information provided in the <br />report is not always available to meet the thirty day requirement. <br />Submitted by: <br />V r ~. <br />David P. Culver <br />Director of Finance <br />Approve y: <br />Nelson Fialho <br />City Manager <br />Attachments: <br />1. Resolution <br />2. Glossary <br />Page 4 of 4 <br />