The Treasury operation manages the City's financial resources through the timely and accurate collection, deposit , monitoring, transferring and investment of City funds. The purpose of this activity is to ensure that sufficient funds are available when needed to pay the City's financial obligations such as operating expenses, payroll and debt service. This is achieved through consistent monitoring of the City's funding needs, receiving and depositing receipts in a timely manner, and transferring funds among appropriate accounts in order to fund accounts payable when due. Many administrative and banking activities are necessary to permit this activity to proceed without delay. Electronic banking is utilized extensively to permit greater control and flexibility over the City's bank accounts, including electronic transmission for Positive Pay for both payroll and general disbursements, and on-line processing of fund transfers for debt service and other recurring disbursements. In addition, on-line banking is utilized to wire funds and transmit data for deferred compensation, sales and use taxes, payroll taxes and to third party administrators handling workers' compensation and medical/dental insurance. The City transmits payroll through the Automated Clearing House (ACH) process of the Federal Reserve System. Treasury functions also include managing the City's investment program, managing the City's electronic banking function, processing all fund transfers between City accounts, monitoring City debt service requirements and collecting and processing all daily deposits citywide.
The Treasury operation manages the City's investment portfolio. This activity is conducted within strict guidelines promulgated by the City's Investment Policy as established by the City Investment Committee, which consists of the City Manager, the City Auditor and Clerk, the Finance Director and the Deputy Finance Director. The program must provide quality investment services that comply with the City Investment Policy that emphasizes safety and liquidity, while maximizing the annual rate of return. The portfolio consists of U.S. Treasuries, U.S. Government agencies, Local Government Surplus Trust Fund, Florida Municipal Investment Trust Fund, Certificates of Deposit and Money Market Accounts. Subject to portfolio modification initiated by the Finance Director and approved by the City Investment Committee, investment categories are limited by the adopted City Investment Policy constraints. At the conclusion of each quarter, a Quarterly Investment Report is issued for the City's Investment Committee for performance review. An Annual Investment Report highlighting quarterly performance is also issued for approval by the City Commission. A sample of more recent Investment Reports can be accessed below.
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Available Investment Reports
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