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Castro Valley USD |  AR  3430  Business and Noninstructional Operations

Investing   

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It shall be the investment policy of the district to:

1. Achieve the best fiscal return on monies derived from premiums and other sources, consistent with:

a. State law (53601 and 53601.1 of the California Code 84035 and 84036 of the Education Code);

b. Good fiscal practice;

c. A liquid position to meet all probably cash requirements;

d. Concern as to the source of funds available for investment;

2. Limit investments to:

a. Federal Government issues:

(1) Further limited to:

(a) An investable fund of over ($1,000,000);

(b) A maturity date of five years or less;

b. State of California Issues not exceeding one-fifth of the investable fund;

c. Local Agency Investment Fund;

d. County Treasurer;

e. Time Certificates of Deposit further limited to:

(1) ($100,000) per financial institution;

(2) Financial institutions insured by the Federal Savings and Loan Insurance Corporation and/or the Federal Deposit Insurance Corporation;

(3) Financial institutions with offices located within the State of California.

f. Guaranteed Investment Contracts.

Reporting

The Assistant Superintendent, Business Services, shall be responsible for maintaining complete and accurate records for management purposes of all investment transactions, including all documents and reports required by the district's independent auditor.

In addition, the Assistant Superintendent, Business Services, shall provide the Board with periodic reports describing the types and amounts of investments, purchase and maturity dates, and yield on investments.

Investment Transaction Approvals

Approval of deposits and withdrawals in investment account shall require the written authorization of the Superintendent and Assistant Superintendent, Business Services.

Regulation CASTRO VALLEY UNIFIED SCHOOL DISTRICT

approved: September 12, 1996 Castro Valley, California