Laserfiche WebLink
0 Control of fraud <br />9 Control of misrepresentation by third parties <br />0 Control of employee error <br />0 Separation of transaction authority from accounting and record keeping <br />0 Custodial safekeeping <br />0 Delivery versus payment <br />9 Clear delegation of authority <br />Conformation of transactions for investment and wire transfers <br />• Written procedures for placing of investment transactions <br />FMSA Investment Advisory Committee <br />In addition, cash balances are reconciled daily by non -investment employees and <br />reconfirmed by the City's accounting staff. Accounting staff also verifies investment activities <br />and holdings on a regular basis which are reviewed by the FMSA Investment Advisory <br />Committee. The Executive Director for FMSA, at his/her discretion, shall establish a process <br />for annual independent reviews by an external auditor to the extent contemplated by <br />generally accepted auditing standards, during the course of the City's annual audit. <br />15.0 REPORTING <br />Government Code Section 53646(b)(1) previously mandated that annual investment <br />policies and quarterly reports be rendered to the legislative body (for the City of Santa Ana <br />- the City Council). AB 2853 amended Government Code Section 53646 making these <br />requirements permissive rather than mandatory. Although the Annual Statement of <br />Investment Policy and Quarterly Reports to City Council are no longer required, we believe <br />it to be both prudent and in keeping with the spirit of the City's Sunshine Policy that these <br />documents continue to provided. The Executive Director for FMSA shall therefore continue <br />to render to the City Council an annual Statement of Investment Policy and regular reports <br />to the City Manager and the City Council containing detailed information on all securities, <br />investments, and moneys of the City. Pursuant to Government Code 53607 the reports <br />shall include monthly transactions for the reporting period. The reports will be submitted <br />to the City Manager and City Council on a monthly basis and will be rendered formally <br />to the City Council on a quarterly basis as part of a scheduled open City Council Meeting <br />agenda within forty-five <br />(45) days following the end of each quarter. <br />The report will contain the following information on the funds that are subject to this <br />investment policy: <br />1) Type of investment and name of issuer; <br />2) Date of maturity; <br />3) Paramount; <br />-Citv of Santa - Annual Page 17 _---July 1-,.2 024, - <br />Statement of Investment Policy June 30, 2025 <br />