Statement of Investment Policy
Investments made by the City of Rockville are restricted by the guidelines set forth in the City's Statement of Investment Policy. The City's Investment Policy restricts investments in the types of securities described in the State Finance and Procurement Article 6-222(a) or Article 95, Section 22-22N of the Annotated Code of Maryland, and all investments made by the City comply with the standards of State Finance and Procurement Article 6-222(d). The City's Investment Policy is reviewed annually by City staff and updated when needed. The current policy was last updated and approved by the Mayor and Council in May 2006. In March 2007, the City's Investment Policy was certified by the Association of Public Treasurers of the United States and Canada (APT U&C). Investment Procedures Manual
The City of Rockville's Investment Procedures Manual sets forth procedures to guide day-to-day administration of all the City's investment activities. The Investment Procedures Manual works in conjunction with the Statement of Investment Policy to outline investment transactions (cash review, security selection, security purchase, settlement), authorized financial institutions, and investment strategies and performance standards. The City's Investment Procedures Manual was last updated in August 2006 and is consistent with objectives set forth in the City's Statement of Investment Policy. Monthly Investment Reports
City staff provides the Mayor and Council with monthly investment reports that contain information on the City's investment portfolio and cash account balances as of month-end. These reports detail the investment portfolio's recent activity, historic and current investment performance measured against a benchmark, total market value of the securities, weighted average maturity of the portfolio, and weighted average yield as of the last day of the month. |
