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The amount and timing of the cash requirements will first be determined.
A compilation of anticipated revenue and maturing investments will be made.
This policy applies to the cash management and investment activities of the City of Lawrence, Kansas, except for the debt service funds, reserve funds and other financial assets held by various fiscal agents and trustees as provided by the appropriate bond ordinance.
The financial assets of all other funds shall be administered in accordance with the provisions of this policy.
All such sales must be approved by the Director of Finance.
The Director of Finance shall establish a system of written internal controls, which shall be reviewed annually by the independent auditor.
No person may engage in an investment transaction except as provided under the terms of this policy and the procedures established by the Director of Finance.
Therefore, it is the policy of the City that funds deemed idle, based on projected cash flow, be invested in a manner that seeks to maximize their productivity until such time as they are needed for the operations of the City.
In some cases, it may be necessary to negotiate the early liquidation of certificates of deposit.
If those deposits are with more than one financial institution, the institution that requires the lowest penalty will be sold first.
The primary tenet of the City of Lawrence investment strategy is ensuring the safety of principal.
Cash investments of the City of Lawrence shall be undertaken in a manner that seeks to maximize investment income while ensuring the preservation of capital in the portfolio.