My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
AG 1998 06 15
CabarrusCountyDocuments
>
Public Meetings
>
Agendas
>
BOC
>
1998
>
AG 1998 06 15
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/25/2002 6:06:43 PM
Creation date
11/27/2017 11:51:52 AM
Metadata
Fields
Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
6/15/1998
Board
Board of Commissioners
Meeting Type
Regular
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
188
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
9. All transactions, including collateral for repurchase agreements, entered into by the <br /> County will be conducted on a delivery-versus-payment basis. Securities will be held <br /> by a contracted third party custodian designated by the Finance Director and <br /> evidenced by safekeeping receipts. <br /> <br />10. The County will diversify its investments by security type and institution. With the <br /> exception of U.S. Treasury securities and agencies and authorized pools, no more than <br /> 35% of the County's total investment portfolio will be invested in a single security <br /> type or with a single financial institution. <br /> <br />I 1. To the extent possible, the County will attempt to match its investments with <br /> anticipated cash flow requirements. Beyond identified cash flow needs, investments <br /> will be purchased so that maturities are staggered to avoid undue concentration of <br /> assets in a single maturity range, however, the County will not directly invest in <br /> securities maturing more than (5) years from the date of purchase. The County may <br /> collateralize its repurchase agreements using longer-dated investments not to exceed <br /> ten (10) years to maturity. <br /> <br />12. <br /> <br />13. <br /> <br />14. <br /> <br />It is the County's full intent, at the time of purchase, to hold all investments until <br />maturity to ensure the return of all invested principal dollars. However, economic or <br />market conditions may change, making it in the County's best interest to sell or trade a <br />security prior to maturity. <br /> <br />All moneys earned and collected from investments other than bond proceed earnings <br />will be allocated quarterly to various fund amounts based on the quarter's average.cash <br />balance in each fund as a percentage of the entire pooled portfolio. Earnings on bond <br />proceeds will be directly allocated to the same proceeds. <br /> <br />The Finance Director is charged with the responsibility of preparing a monthly <br />investment inventory report which includes investment types, cost, market value, <br />maturity date and yield. This shall serve as the County's investment policy. <br /> <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.