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359 GENERAL GOVER jvML.NT Ch. 2256 § 2256.023 § 2256.021. Effect of Loss of Required Rating An investment that requires a minimum rating under this subchapter does not quality as an authorized investment during Se period the investment does not have the minimum rating. An entity shall take all prudent measures that are consistent with its investment policy to liquidate an inv not have the minimum rating, estment that does Added by Acts 1995, 74th Leg., ch. 402, § 1, eff: Sept. 1, 1995. ` § 2256.022, Expansion of Investment Authority Expansion of investment authority granted by this chapter shall require a risk assessment by the state auditor auditor. or performed at the direction of the state Added by Acts 1995, 74th Leg. ch. 402, § 1, eff: Septa I, 1995. § 2256.023. Internal Management Reports (a) No't less than quarterly, the investment officer shall prepare and submit to the governing body of the entity a written report of investment transactions for all funds covered by this chapter for the preceding reporting period. .(b) The report must: (1) describe in detail the investment position of the entity on the date of the report; (2) be prepared jointly by all investment officers of the entity; (3) be signed by each investment officer of the entity; (4). contain a summary statement, prepared in compliance with generally accepted accounting principles, "of each pooled fund group that states the: (A) be ' ning market value for the reporting period; (B) additions and changes to the market value during the period; (C) ending market value for the period; and (D) fully accrued interest for the reporting period; (5) state the book value and market value of each separately invested asset at the beginning and end of the reporting period by the type of asset and fund type invested; (6) state the maturity date of each separately invested asset that has a maturity date; (7) state the account or fund or pooled group fund in the state agency or Iocal government for which each individual investment was acquired; and • (8) state the compliance of the investment portfolio of• the state agency or local government as it relates to: (A) the investment strategy expressed in the agency's or local overn- ment's investment policy; and g (B) relevant provisions of this chapter, - (c) The report shall be presented not less than quarterly to the governing body and the chief executive officer of the entity within a reasonable time afte_-_4_ the end of the period. --