§ 401-60. Reporting requirements.

A. 

On a quarterly basis, a report containing the following information will be prepared by the Treasurer and distributed to the Finance Director and/or his/her designee as appropriate. The quarterly report will include the following information, as a minimum requirement:

(1) 

A listing of the individual accounts held at the end of the reporting period identifying the name of the account, the type of security(ies) and the market value of each account.

(2) 

A summary of the income earned on a monthly basis and year-to-date basis shall be reported.

(3) 

A brief statement of general market and economic conditions and other factors that may affect the Town's cash position.

B. 

Notwithstanding the foregoing, the Treasurer shall immediately bring to the attention of the Finance Director any matter of consequence related to the investment portfolio. Such matters include, but are not limited to, SEC or other federal or state investigations of any entity which is an issuer of an instrument found in the Town's investment portfolio, failure by an entity to pay timely expected dividends, interest payments or other items of value, defaults in the terms or conditions of any investment purchase contract by the issuer of the instrument and any conduct in violation of § 401-57 of this policy.