§ 3.04.060. Deposit and investment reports

The city treasurer and the finance director may, by prior agreement, jointly prepare and submit to the city council the quarterly reports on deposited and invested funds of the city that are required by subsection (b) of section 53646 of the California Government Code. In the absence of such agreement, the city treasurer shall prepare such a report on the treasurer's funds, if any, which have deposited and invested under his or her discretion and the finance director shall prepare a report on the city funds, if any, which have been deposited by him or her and invested by the city council. Those reports shall be submitted to the city council no later than four weeks following the end of the each fiscal quarter.

In addition, if the city council has delegated its investment authority to the treasurer as provided in section 53607 of the California Government Code, the treasurer and finance director may, by prior agreement, jointly prepare monthly written reports to the city council of all investment transaction during the prior month undertaken by the treasurer. Said report shall also include a description of all such investments subject to the control of the treasurer as of the close of business of the prior month, including the value of such investments as of said date. Said written reports shall be delivered to the city council no later than 20 days following the end of the month covered by the report. In the absence of such agreement between the city treasurer and finance director, the city treasurer shall prepare and submit such a report to the city council.

(Ord. No. 359)