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<br />______________________________________________________________________________ <br /> <br />Page 1 of 1 <br /> <br /> <br /> <br /> <br />COMMISSION POLICY <br /> <br />Section: Category: <br />Governance Delegation to Management Policies <br />Policy Reference: Policy Title: <br />G.4i1 Investments <br /> <br />PURPOSE: <br /> <br />With this policy, the Commission sets forth its expectations for the General Manager concerning <br />the investment of ERMU funds. <br /> <br />POLICY: <br /> <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 /> <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 /> <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 /> <br />POLICY HISTORY: <br /> <br />Adopted December 12, 2017 <br />154