FIN 2025-06-23 Item 1A - Resolutions - City Investment and Debt Policies

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i. Control of collusion ii. Separation of transaction authority from accounting and recordkeeping iii. Custodial safekeeping iv. Avoidance of physical delivery securities of marketable securities v. Clear delegation of authority to subordinate staff members vi. Written confirmation of transactions for investments and wire transfers vii. Dual authorizations of wire transfers viii. Staff training and ix. Review, maintenance and monitoring of security procedures both manual and automated. F. External Controls The Office of the State Auditor requires that in accordance with Revised Code of Washington 43.09.260, the City must undergo annual financial examinations performed by State Examiners. Investment management is to be included as part of the annual independent audit to assure compliance with this investment policy. 8. Authorized Financial Dealers A. Broker/Dealers The Finance Director or designee shall maintain and review annually a list of all authorized financial institutions and broker/dealers that are approved to transact with the City for investment purposes. Any firm is eligible to make an application to the City. Additions and deletions to the list will be made at the City's discretion. All broker/dealers and financial institutions who desire to do business with the City must supply the Finance Director with the following: i. Annual audited financial statements. ii. Proof of FINRA (Financial Industry Regulatory Authority) certification. iii. Proof of registration with the State of Washington. iv. A completed Broker/Dealer questionnaire and a certification of having read the City Investment Policy. B. Investment Advisors The City may contract with an external investment advisor to assist with the management of the City's investment portfolio in a manner that is consistent with the City's objectives and this policy. Advisors must be registered under the Investment Advisers Act of 1940 and must act in a non -discretionary capacity, requiring approval from the City prior to all transactions. The Finance Director or designee may utilize the investment advisor's approved broker/dealer list in lieu of the City's own approved list. The advisor must submit the approved list to the City annually and provide updates throughout the year as they occur. The advisor must maintain documentation of appropriate license and professional credentials of broker/dealers on the list. The annual investment advisor broker/dealer review procedures include: City of Tukwila Investment Policy 2025 Page 8 of 18 12