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Littleton Public Schools Policy |
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Policy Code DFA Policy Name Investments Adoption July 2, 1984 Revised April 27, 2000 |
The Board of Education authorizes the Superintendent, or his designee, to effectively manage the District’s financial assets and to invest all funds not needed immediately. This policy shall apply to the investment of all financial assets and all cash of the District over which it exercises financial control. In order to effectively make use of the District’s cash resources, all cash shall be pooled into one investment account and accounted for separately. The investment income derived from this account shall be recorded in the General Fund. However, where governmental accounting principles require that other funds be allocated investment income, the allocated sums shall be recorded in that fund but transferred back to the General Fund, unless prohibited by state law.
All District cash allocated to a specific use but temporarily not needed shall be invested by the administrator appointed by the Board of Education in accordance with state law.
Cash shall be invested in a manner designed to accomplish the following objectives:
To ensure the safety of the monies invested;
To ensure that adequate cash is available to meet the daily financial obligations of the District;
To earn a market rate of return on the investments;
To ensure that all cash is deposited and invested in accordance with state law.