A. RCW Chapter 35A.40.050 provides a city may invest excess funds, may designate an investment official and may deposit certain investment returns into the current expense fund.

B. The Finance Director is authorized to determine the amount of money available in each fund for investment purposes and to make the investments allowed by law. The Finance Director shall make a monthly report of all investment transactions to the City Council.

C. The Finance Director is directed to deposit all income derived from investments into the current expense fund except for that income required by the Laws of the State of Washington or the United States to be returned to the participating fund. (Ord. 2444, 2/24/09; Ord. 1048, 1982)