Oklahoma § 62-89.7 - Investment performance reports

§ 62-89.7. Investment performance reports

A. The State Treasurer shall prepare monthly and annual

investment performance reports of the State Treasurer's Office in

the form and manner required by the Cash Management and Investment

Oversight Commission after consultation with the State Treasurer

which summarize recent market conditions, economic developments and

anticipated investment conditions and the investment plan

Oklahoma Statutes - Title 62. Public Finance

performance, including portfolio diversification and rates of return

measured against the investment plan of the State Treasury. The

annual investment performance report shall be submitted to the

Commission and shall be made within ninety (90) calendar days after

the end of the fiscal year. The monthly investment performance

reports shall be submitted to the Executive Review Committee and

shall be made within thirty (30) days after the end of the

applicable month. The investment performance reports shall specify

the investment strategies employed in the most recent reporting

period and describe the investment portfolio of the state in terms

of:

1. Securities;

2. Maturities;

3. Fund type;

4. Financial institutions from which securities were purchased,

including the amounts and the city and state of location;

5. Investment return compared to budgetary expectations;

6. Average yield; and

7. Average life of the portfolio.

The investment performance reports shall also indicate any areas of

concern which the State Treasurer has concerning the basic

investment strategies being employed. The investment performance

reports shall contain:

a.

combined and individual rates of return and a list of

all losses by category of investment, over periods of

time;

b.

the rate of return on deposits and all fees and

expenses charged as to all depository financial

institutions of the State Treasury and a specific

review of the adequacy of the collateralization;

c.

any other information that the State Treasurer may

include; and

d.

such other information that the Cash Management and

Investment Oversight Commission created by Section

71.1 of this title may request and that the State

Treasurer agrees to include in the investment

performance reports.

B. To the extent that the State Treasurer should have reason to

know, the State Treasurer shall also include in the investment

performance reports a listing of all payments, fees, commissions, or

other compensation received by any person, including but not limited

to individuals, financial institutions, or investment companies or

corporations, which have an investment agreement, contract, or other

arrangement with the State Treasurer, or who receive any

compensation as a result of a transaction involving the investment

of state monies or funds or the purchase, sale, or trade of

securities or bonds involving the Office of the State Treasurer.

Oklahoma Statutes - Title 62. Public Finance

Said listings shall also include the social security or federal

identification number of any person, including but not limited to

individuals, financial institutions, or investment companies or

corporations, receiving payments, fees, commissions, or other

compensation.

C. The annual investment performance report shall be written in

simple and easily understood language containing:

a.

an analysis of the written investment plans developed

by the Treasurer as required by law;

b.

a quantitative analysis of the performance of all

depository financial institutions approved by the

State Treasurer, with regard to monies deposited;

c.

the result of the analyses prepared pursuant to

subparagraphs a and b of this paragraph compared with

similar data for other states;

d.

recommendations on administrative and legislative

changes which are necessary to improve the performance

of the State Treasury in accordance with current

standards for large public fund portfolio management;

and

e.

a listing by object code of the expenses of the State

Treasury as audited by the independent auditor

provided by Section 89.10 of this title.

D. The State Treasurer shall distribute the investment

performance reports to the Governor, the President Pro Tempore of

the Senate, the Speaker of the House of Representatives, the State

Auditor and Inspector, the Attorney General, and members of the Cash

Management and Investment Oversight Commission. Upon request, the

State Treasurer shall make the annual investment performance report

available to the members of the Legislature and the general public.

The annual investment performance report shall also include an

investment plan for the ensuing fiscal year.

E. The State Treasurer shall require all employees in the State

Treasury to sign an anti-collusion affidavit. Execution of a false

affidavit shall make such employees subject to disciplinary action,

including but not limited to termination, criminal prosecution or

both.

F. The State Treasurer shall require an anti-collusion

affidavit from brokers or other persons offering investment services

to the State Treasury. The State Treasurer shall be prohibited from

employing or doing business with any brokers or persons offering

investment services to the State Treasury who have not executed such

an affidavit.

G. The Cash Management and Investment Oversight Commission

shall certify that the State Treasurer has delivered to the

Commission the monthly and annual investment performance reports and

the annual financial report required by this section. If the

Oklahoma Statutes - Title 62. Public Finance

Commission determines that these reports have not been delivered by

the State Treasurer as required by law, the Commission shall notify

in writing the Governor, the Speaker of the House of

Representatives, the President Pro Tempore of the Senate, the

Attorney General, and the State Auditor and Inspector.

Added by Laws 1987, c. 194, § 13, operative July 1, 1987. Amended

by Laws 1991, c. 207, § 5, eff. July 1, 1991; Laws 1994, c. 227, §

3, emerg. eff. May 24, 1994; Laws 1995, c. 88, § 5, eff. July 1,

1995; Laws 2010, c. 241, § 9, emerg. eff. May 10, 2010; Laws 2011,

c. 261, § 3, eff. Nov. 1, 2011.