Buckley Investment Group, LLC 13½ E. Main Street, Ste 211 Walla Walla, WA Ph Fax

Fiduciary Responsibility  Guardian of Public Funds Prudent Transparent Documented  Avoid the Headlines

Fiduciary Responsibility  Investment Policy Statement  Investment Management Process  Client Documentation  Protects the Governmental Entity AND The Investment Officer

Investment Policy Statement Sets the Investment Guidelines  Investment Objective Balancing Act: Safety and liquidity versus yield  Primary Investment Objective Safety of funds Meet cash flow requirements  Secondary Investment Objective Incremental income from the prudent investment of surplus funds

Investment Policy Statement  Investment Parameters Asset Allocation Benchmark Performance Standards and Monitoring Eligible Securities (type, quality, duration)

Eligible Investments  Statutes set forth eligible investments RCW RCW RCW RCW 39.58

Investment Policy Statement  Roles & Responsibilities Fiduciary Agent Investment Advisor (State or Private) Fund Manager

Investment Management Process  Maintaining Compliance with the IPS  Systematic Process to Maintain Security Eligibility Asset Allocation Performance  Benchmark comparison  Peer group comparison

Client Documentation  Periodic Review Monthly, Quarterly, Annual, 3-Year, & 5-Year  Performance Reports Portfolio Performance Benchmark Comparison Manager Peer Group Comparison  Market Commentary  Asset Allocation Rebalancing  Manager Replacement Reports

Fund Manager Selection  Meets the IPS “Safety” Standards  Consistent Performance vis-à-vis the Benchmark and Peer Group