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ADMINISTRATION & FINANCE POLICIES <br />Supplement 202 – Investments <br />The City shall invest excess cash in various investment vehicles as allowed by Indiana law. The City shall <br />make all investments, in both Deposit and Investment Accounts, in accordance with the terms and <br />limitations of Indiana Code 5-13-9. The current authorization for the City to engage in these investment <br />activities comes from Ordinance No. 10993-23. The City's practice is to obtain authorization via an <br />ordinance on an annual basis, so as to maintain the maximum investment flexibility under Indiana Code <br />5-13-9. <br />Board of Finance <br />The local Board of Finance (as defined in Indiana Code 5-13-7) will review the investment policy and will <br />receive an investment report on an annual basis coincident with the Annual Meeting of the Board of <br />Finance, held after the 1st Monday in January and before January 31st. <br />Valuation of Investments <br />Currently, the total amount invested is $200 million. On a monthly basis, the City’s investment custodian <br />(currently 1st Source) transfers any gain in market value over $200 million or direct dividends paid from <br />investments into the City’s depository bank account. This investment income is allocated using the <br />procedures described in Supplement 203. <br />The City will not track the current fair market value of investments on a monthly basis in DFO. Rather, the <br />City's books will be adjusted for FMV of investments on an annual basis only. <br />27