The Board of Education will invest public funds in excess of daily operational requirements in a manner which will provide the highest return with maximum security while maintaining adequate liquidity to meet daily cash flow needs. The Board will conform to all state and local statutes governing the investment of public funds, as well as applicable Federal and State regulatory requirements.
This policy applies to the investment of all unexpended or surplus funds accounted for in the Board’s Comprehensive Annual Financial Report which include: the Current Expense (general operating) Fund, the School Construction Fund, the Food and Nutrition Service Funds, the Group Life and Health and Vehicle Self-Insurance Funds, and any other funds that may be created from time to time.
This policy will be carried out by the Superintendent, Treasurer of the Board of Education, through the Office of the Assistant Treasurer based on administrative procedures specifically developed for this purpose.
Policy Adopted 4/16/98
Policy Amended 3/4/03
Policy Reviewed-No Revisions Required 11/9/04
Policy Amended 7/20/09
Updated April 29, 2010
