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<br />City of Casselberry, Florida <br />Investment Policy <br /> <br />I. Scone <br /> <br />This Investment Policy applies to all funds (excluding deferred compensation and other <br />employee benefit plans, if any) held by or for the benefit of the City of Casselberry, <br />Florida (the City). <br /> <br />II. Investment Obiectives <br /> <br />The following investment objectives will be applied in the management of the City's <br />funds. <br /> <br />A. The primary objective of the investment activities is the protection of City funds. <br /> <br />B. The investment strategy will provide sufficient liquidity to meet the City's <br />operating, payroll and capital requirements. <br /> <br />C. In investing public funds, the Finance Director will strive to maximize the return <br />on the portfolio but will minimize the investment risk. <br /> <br />D. The Finance Director will set procedures to control risks and diversify <br />investments regarding specific security types, maturities and financial institutions. <br /> <br />III. Delel!ation of Authoritv <br /> <br />The Finance Director is designated as investment officer of the City and is responsible <br />for investment decisions and activities, under the direction of the City Manager. The <br />Finance Director shall develop and maintain written administrative procedures for the <br />operation of the investment program, consistent with these policies. In order to optimize <br />total return through active portfolio management, resources shall be allocated to the cash <br />management program. This commitment of resources shall include financial and staffing <br />considerations. <br /> <br />IV. Prudence and Ethical Standards <br /> <br />The "prudent person" standard shall be used by city staff in the management of the <br />overall investment portfolio. <br /> <br />The Finance Director, or persons performing the investment functions, acting as a <br />"prudent person" in accordance with these written policies and procedures, and <br />exercising due diligence, shall not be responsible for an individual security's credit risk <br />or market price changes provided that appropriate monitoring efforts are performed. <br /> <br />The "prudent person" standard is herewith understood to mean the following: <br />