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ERMU Commission PolicyG.2g2Financial Reserves & InvestmentCommitteeCharter <br />______________________________________________________________________________ <br />SPECIFIC DUTIES: <br />1.At the request of the Commission, research and analyze topics related to financial reserves <br />and investments. <br />2.On a periodic basis, the Committee will review the InvestmentPolicies, investment balances, <br />and the various investment instruments for return, liquidity, and diversification.The <br />Committee may present options and make recommendations to the Commission for their <br />consideration. <br />3.Annually, when the Commission designates the official depository for the year, it should <br />provide for the Finance Manager to recommend that additional depositories be designated for <br />the purpose of investing funds. <br />4.On behalf of the Commission and Committee, new investments will be authorized by the <br />FinanceManager, with the funds actually being transferred via a check produced by the A/P <br />Specialist, and recorded in the check register detail presented at the regular Commission <br />meetings.Investments that matureshall be reinvested by the Finance Manager. All investing <br />will be transacted working with the investment firm(s) or bank(s) for the best rate of return <br />within the constraints of theManagementInvestment Policy. In the event that the Finance <br />Manager is unable to conduct theaboveinvestment responsibilities, the General Manager has <br />the authority to act in his/her absence. <br />5.On a periodic basis, the Committee will review the Financial Reserves Policiesand reserve <br />balances. The Committee may present options and make recommendations to the <br />Commission for their consideration. <br />SCHEDULE: <br />At a minimum, the Committee shall meet on anannual basis. <br />TERMINATION: <br />The Committee shall exist until at such time formal action of the Commission is taken to <br />dissolve the Committee. <br />POLICY HISTORY: <br />AdoptedMay 9, 2017 <br />RevisedJuly 14, 2020 <br />______________________________________________________________________________ <br />Page 2of2 <br />14 <br />