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∗ to obtain a reasonable rate of return (yield). III. DELEGATION OF AUTHORITY The governing board’s responsibility for administration of the investment program is delegated to the Town Supervisor who shall establish written procedures for the operation of the investment program consistent with these investment guidelines. Such procedures shall include an adequate internal control structure to provide a satisfactory level of accountability based on a database or records incorporating description and amounts of investments, transaction dates, and other relevant information and regulate the activities of subordinate employees. IV. PRUDENCE All participants in the investment process shall seek to act responsibly as custodians of the public trust and shall avoid any transaction that might impair public confidence in the Town of Collins to govern effectively. Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the safety of the principal as well as the probable income to be derived. All participants involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions. V. DIVERSIFICATION It is the policy of the Town of Collins to diversify its deposits and investments by financial institution, by investment instrument and by maturity scheduling. VI. INTERNAL CONTROLS It is the policy of the Town of Collins for all moneys collected by any officer or employee of the government to transfer those funds to the (chief fiscal officer) within seven (7) days of deposit or within the time period specified in law; whichever is shorter. The Town Supervisor is responsible for establishing and maintaining an internal control structure to provide reasonable, but not absolute, assurance that deposits and investments are safeguarded against loss from unauthorized use or disposition, that transactions are executed in accordance with management’s authorization and recorded properly and are managed in compliance with applicable laws and regulations. VII. DESIGNATION OF DEPOSITARIES The banks and trust companies authorized for the deposit of money up to the maximum amount are: Community Bank NA, Gowanda, N Y Manufacturers and Traders Trust Co. Cattaraugus County Bank VIII. COLLATERALIZING OF DEPOSITS In accordance with the provisions of General Municipal Law, § 10, all deposits of Town of Collins, including certificates of deposit and special time deposits, in excess of the amount insured ORGANIZATIONAL MEETING TOWN OF COLLINS JANUARY 5, 2026 6