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January 2026 broker/dealer or financial institution; or (c) securities offered by approved broker/dealers wh--m- market conditions would make obtaining bids impractical. Anytime competitive bids are n received, comparative interest rates must be obtained, and two investment officers must appro the purchase of the security. I 1 03 UA of M*J The City of Paris will diversify its investments by security type and institution. With the exception of obligations of the United States or its agencies and authorized pools, no more than 50% of the City of Paris total investment portfolio will be invested in a single financial institution with th+ exception of its local depository. flow requirements. Unless matched to a specific cash flow, the City of Paris will not directly invest in securities maturing more than 10 years from the date of purchase. However, the City of Paris Reserve tuni I LLIV PMTT�e -�V .1 J.1 Lll� 11 1 is made to coincide as nearly as practicable with the expected use of the funds. 1 '911 Irm 04 1111WEVI WORWIN N ITO The Finance Director shall establish an annual process of independent review by an external auditor. This review will provide internal control by assuring compliance with policies and procedures. 14.0 PERFORMANCE STANDARDS The investment portfolio shall be designed with the objective of obtaining a rate of return throughout budgetary and economic cycles, commensurate with the investment risk constraints and the cash flow needs. 14.1 MARKET YIELD (BENCHMARK): The City of Paris investment strategy is active. Given this strategy, the basis used by the Investment Officer to determine whether market yields are being achieved shall be designed with the objective of regularly meeting or exceeding the average rate of return on U.S. Treasury Bills ata maturity level comparable to the City's weighted average maturity in days. 15.0 REPORTING The Investment Officer shall prepare an investment report in compliance with Section 2256.023 of the statute and provide to the City Manager and City Council not less than quarterly. An 7