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Mavfeelcl t'tdlrrge Investrnent PoLicy <br />9.0 - Collateralization; Collateralization will be required on two types of investrnents: <br />certificates of deposit and repurchase and reverse repurchase agreements. In order to <br />anticipate market changes and provide a level of security for all funds, tha <br />callateralization levei will be (102%) of market value of principal and accrued inters. <br />Collateral will always be held by an independent third party wiih whom Mayfield Village <br />has a current custodial agreement_ A clearly marked evidence of ownership (safekeeping <br />receipt) must be supplied to Mayfield Village and retained. <br />The right of collateral substitution is granted. <br />1_0. 0-_&fekeeping All security transactions, including cvllateral for repui'chase <br />agreements, entered into by Mayfield Village shall be conducted on a delivery-versus- <br />payme?at (DVF) bcrsis. Securities Will be held by a third party custodian dcsignated by <br />#he Director of Finance and evidenced by safekeeping receipts, <br />11, 0- Diversi(ication: Mayfzeld Village will diversify its investment by security type <br />and institutxon. With the exception of U.S. Treasury securities and authorized pools, no <br />mare than 50% of Maytield Village's totaS investment portfolio will be investeci in a <br />single security type or witli a single financial institution. <br />12011-firxi?,mm Muturities: To the extent p4ssible, Mayfield Village will attempt ta <br />match its investments with anticipated cash flow requirements. Unless matched to a <br />specific cash flow, Mayfield Viliage will not directly invest in securities maturing more <br />than two years from the date of purchase, Howeve;r, Mayfield Village may collateralize <br />its repurchase agreezn,ents using longer-dated investtnents not to exceed five ycars to <br />maturity. <br />13.0 -1'nternal Control; The Direci;or of Finance shall request the State Auditor to <br />perform an independent review af the investment policy and compliance with same. This <br />review wiii pXOVide internal control by assuring cornpliance with pqlioies and procedures. <br />14, 0- Performance .Stanrlrcrds: _ The investment portfoliv sha11 be designed witn the <br />objective of obtaining a rate of return throughout budgetary and economic cycles, <br />cdmmensurate with the investment risk constrain#s and the cash flaw needs. <br />141 - Market Yield '(Benchmnrk): The entity's investment strategy is passiv8, Criven <br />this strategy, the basis used by the nirector oF Finance ta determine whether market <br />yields are being achicved shall be the corresponding rates for STAR Ohio during the time <br />in question. <br />Page 5 of 6