BP 3430 — Investing

Section: 3000 - Business and Non-Instructional Operations
Status: Active

Adopted: 2021-09-09

Policy text

INVESTING

ll or part of the special reserve fund of the district, or any surplus monies not required for the immediate necessities of the district, may be invested as allowed by law for public funds.

The Governing Board authorizes the district’s chief fiscal officer to invest and reinvest such funds on behalf of the district. They shall make monthly reports of those transactions to the Board. The Board retains the right to revoke this authority at any time.

The Board recognizes that the district’s chief fiscal officer has fiduciary responsibility for any funds invested outside the county treasury and is subject to prudent investor standards for investment decisions. As such, they shall act with care, skill, prudence, and diligence under the prevailing circumstances, including but not limited to the general economic conditions and the anticipated needs of the district. The investment objectives shall be to first safeguard the principal of the funds, then to meet the district’s liquidity needs and, third, to achieve a return on the funds.

In order to enhance investment return, the district’s goal shall be to generate an investment yield that attains or exceeds a market-average rate of return through economic cycles.

The Board recognizes the importance of overseeing investments made with district funds, including investments by the county treasurer. The Superintendent or designee shall maintain ongoing communication with any county committee established for the purpose of overseeing county investments. In addition, the Superintendent or designee shall keep the Board informed about county policies that guide the investment of these funds.

The Board may establish an investment oversight committee to monitor the district’s investments and make recommendations to the chief fiscal officer and the Board regarding investment policies.

Quarterly Investment Reports

The chief fiscal officer of the district shall provide the Board, Superintendent, and internal auditor with quarterly reports of district investments in individual accounts that are $25,000 or more.

(Replaced BP 3002 Investments)