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Utilities <br /> • Added Garbage Fund to include all Enterprise Funds in which transfers are made for <br /> administrative items. <br /> • Deleted the section on equity transfers and include a section that all operating transfers not <br /> included in the budget must be approved by City Council to be consistent with past practice. <br /> Cash Management <br /> ■ No change/update. <br /> Investments <br /> • Added section and description on money market accounts to match state statute. <br /> • Added section that maximum maturity will be 10 years with a total weighted average maturity of <br /> total investments not to exceed 5 years. Staff feels that in order to mitigate interest rate risk 10 <br /> years and under would be a good best practice. <br /> • Added "and registered" to match current state statute for safekeeping. <br /> • Staff provides quarterly investment reports to Council and updated section to match current <br /> practice. <br /> Fund Balance <br /> ■ No change/update. <br /> Debt <br /> • Updated with minor changes the section on variable rate debt and debt structuring practices. <br /> • Added a section under debt management practices on communication with rating agencies and <br /> securities exchange commission (SEC) to match current practices. <br /> • Council approved on February 6, 2012, a policy on post issuance debt compliance, during this <br /> update we wanted to keep all policies in one document and are bringing it into the debt section. <br /> Capital Improvement <br /> ■ No change/update. <br /> Risk Management <br /> ■ No change/update. <br /> Accounting,Auditing and Financial Reporting <br /> ■ No change/update. <br /> Operating Budget <br /> ■ No change/update. <br /> Purchasing/Credit Card Use <br /> ■ Added a footnote that EDA/HRA staff will follow the policy but seek approval from their <br /> respective boards. <br /> Public Purpose Expenditures <br /> ■ No change/update. <br />