·During the fiscal year of 2010/2011, the City's idle funds were invested in accordance with the Investment Policy of the City, reviewed quarterly by the Investment Advisory Committee.
·All securities transactions cleared through the Custodial agent with no failed transactions.
·Cash management provided sufficient liquidity to meet operational needs.
·Accounts payable checks and payroll checks were disbursed in a timely manner as prescribed by City policy.
·Treasury uses the Business Deposit Capture software program that processes deposits electronically by creating images of the checks using a scanner.The deposits are credited by the bank the same day. Armored car transportation fuel surcharges and related insurance liability were also reduced as result.
·Treasurer and staff attended seminars and conferences sponsored by relevant professional organizations in order to keep current with proposed and enacted legislation and to enhance knowledge and skills relative to investment and cash management. The California Municipal Treasurers Association has conferred the title of Certified California Municipal Treasurer on the Deputy Treasurer, and new city treasurer is advancing through requirements to receive designation.
·Added city council liaison to investment advisory committee to facilitate better communication between city council and treasurer’s office.
·Accepted City's current investment policy to be consistent with relevant Government Code sections governing investments by local agencies.