Advice and assistance in regards to the investment of bond proceeds such as debt service reserve, construction and capitalized interest funds.

Advice and assistance regarding the investment of existing non-bond fund balances such as enterprise, capital projects, general, operation and maintenance, renewal and replacement, self-insurance and non-designated funds.

Advice and assistance pertaining to the appropriate use of various interest rate products to manage debt service costs as well as hedge against rising or falling interest rates in the above mentioned funds.

LYRB uses the Utah Public Treasurer's Investment Fund ("UPTIF") monthly rate as a benchmark. Aside from extenuating circumstances, such as yield restricted funds, no investment activity will be recommended unless the expectation is that such activity, net of associated costs, would produce a yield in excess of the UPTIF.

More specifically, LYRB can provide specific services such as:

Assist in the drafting, review and adoption of an investment policy (in the absence of existing policy) or, where there is existing investment policy, review that policy and make recommendations for such changes as might provide increased opportunity to maximize investment yield.

Analyze various funds, in light of the investment policy, assist in the identification of a custodian, make recommendations for acceptable investments and the term of the investment.

Review cash balances and outstanding debt service and, if appropriate, make recommendations for the use of interest rate swaps and/or variable rate debt to hedge against moves in the interest rate markets that could negatively impact the yield on cash balances or the cost of debt service, including the use of interest rate caps.

Develop documentation, conduct competitive bid and implementation of the investment of debt service reserve, construction and capitalized interest funds in such instruments as forward delivery agreements, repurchase agreements and similar investment vehicles.

All of the investment advisory services provided by Lewis Young Robertson & Burningham, Inc. are predicated upon the following guidelines:

Protect the corpus of invested funds-safety of principal

Use the UPTIF as a benchmark rate

Operate within the parameters of the State Money Management Act

Maintain a balance between maximization of yield and intended use of funds

Provide timely reporting

Ensure all investments are held by a designated custodian