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Elk River <br /> Municipal Utilities COMMISSION POLICY <br /> Section: Category: <br /> Governance Delegation to Management Policies <br /> Policy Reference: Policy Title: <br /> G.4i1 Investments <br /> PURPOSE: <br /> With this policy,the Commission sets forth its expectations for the General Manager concerning <br /> the investment of ERMU funds. <br /> POLICY: <br /> The General Manager shall not allow investments of ERMU funds that conflict with the <br /> requirements of applicable federal, state, and local laws and regulations governing the investment <br /> of public funds (Including Minnesota Statutes Chapter 118A. Deposit and Investment of Local <br /> Public Funds). Management responsibility for the investment program is hereby delegated to the <br /> General Manager,acting under the guidance of the Financial Reserves and Investment <br /> Committee Charter. <br /> The General Manager shall prepare for Commission approval and,upon approval, implement a <br /> Management Investment Policy that sets forth ERMU's policy, standard of prudence, objectives, <br /> delegation of authority, suitable investments, internal controls,performance standards and <br /> reporting requirements for ERMU investments. <br /> In addition,the General Manager shall inform the Commission routinely about ERMU's <br /> investment performance,the content and application of the Management Investment Policy, and <br /> other investment matters that support the Commission in meeting its fiduciary requirements. <br /> POLICY HISTORY: <br /> Adopted Month, Day, Year <br /> Page 1 of 1 <br /> An <br />