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the specific instrument, selling broker/dealer, issuer, coupon, maturity, cusip number, purchase <br />or sale price, transaction date, and other pertinent information. <br />Demand and time deposits shall be collateralized through the state collateral pool as required by <br />statute for any excess over the amount insured by an agency of the United States government. <br />The Deputy Treasurer is responsible for maintaining sufficient collateral with each fmancial <br />institution. <br />Delivery versus payment will be required for all repurchase transactions and with the collateral <br />priced and limited in maturity in compliance with ORS 294.035 (1). ORS 294.035 (11) requires <br />repurchase agreement collateral to be limited in maturity to three years and priced according to <br />percentages prescribed by written policy of the Oregon Investment Council or the Oregon Short- <br />Term Fund Board. On March 12, 1996, the OSTF Board adopted the following margins: <br />• US Treasury Securities 102% <br />• US Agency Discount and Coupon Securities 102% <br />• Mortgage Backed and Other 103% <br />ACCOUNTING METHOD <br />The City of Springfield shall comply with all required legal provisions and Generally Accepted <br />Accounting Principles (GAAP) as applicable to governmental units. The Governmental <br />Accounting Standards Board (GASB) is the accepted standard-setting body for establishing <br />governmental accounting and financial reporting principles. <br />REPORTING REQUIREMENTS <br />The Deputy Treasurer will generate monthly reports for management purposes which will <br />include an analysis of investments by financial institution, type of security, rate of interest and <br />maturities. Any deviation from the Investment Guidelines must be authorized by the Finance <br />Director. <br />INDEMNITY CLAUSE <br />The City will indemnify the investment officer, staff and city officials, from personal liability for <br />losses that might occur pursuant to administering and while acting in accordance with this <br />investment policy. <br />Staff acting in accordance with this policy and exercising due diligence, will not be held <br />personally responsible for a specific security's credit risk, market price changes, or loss of <br />principal if securities are liquidated prior to maturity, provided that these deviations and losses <br />are reported as soon as practical and action is taken to control adverse developments. <br />2005 MWMC Financial Plan - Appendix N Page 51 <br />