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March 4, 1996 <br />Page 4 of 4 <br />laws. The City Council Finance Committee will review and approve all changes to this <br />policy statement prior to submittal for approval by the City Council. <br />The Finance Director shall submit a monthly report to the City Manager and the City <br />Council on the status of the City's investment portfolio. The report will be prepared <br />which furnishes detailed information as to the type of investment, the amount of <br />money invested with various institutions, purchase and maturity dates and interest <br />rate yield on investments in accordance with the Government Code. The report shall <br />state if the City investments are in compliance with this policy and able to meet its <br />cash flow obligation for the next six month period. <br />