Sample investment reports

Methods

The investment officer shall prepare an investment report at least quarterly [or monthly], including a management summary that provides an analysis of the status of the current investment portfolio and the individual transactions executed over the last quarter [or month]. This management summary will be prepared in a manner which will allow the [entity] to ascertain whether investment activities during the reporting period have conformed to the investment policy. The report should be provided to the entity’s chief administrative officer, the legislative body, the investment committee, and any pool participants. The report will include, at a minimum, the following:

  1. An asset listing showing par value, cost, and accurate and complete market value of each security, type of investment, issuer, and interest rate;
  2. Average maturity of the portfolio and modified duration of the portfolio;
  3. Maturity distribution of the portfolio;
  4. Average portfolio credit quality; and,
  5. Time-weighted total rate of return for the portfolio for the prior one month, three months, twelve months, year to date, and since inception compared to the Benchmark Index returns for the same periods;
  6. Average weighted yield to maturity of portfolio on investments as compared to applicable Benchmarks;
  7. Distribution by type of investment.

Annual reports

  1. The investment policy shall be reviewed at least annually within 120 days of the end of the fiscal year to ensure its consistency with the overall objectives of preservation of principal, liquidity, and return, and its relevance to current law and financial and economic trends.
  2. A comprehensive annual report shall be presented in conjunction with the investment policy review. This report shall include comparisons of City’s return to the Benchmark Index return, shall suggest policies and improvements that might enhance the investment program, and shall include an investment plan for the coming year.

Annual audit

Management shall establish an annual process of independent review by the external auditor to assure compliance with internal controls. Such audit will include tests deemed appropriate by the auditor