El Dorado Union HSD | BP 3430 Business and Noninstructional Operations
All or part of the special reserve fund of the district or any surplus monies not required for immediate necessities of the district may be invested as allowed by law for public funds. (Education Code 41015; Government Code 16430, 53601-53609, 53635).
The Governing Board authorizes the district's chief fiscal officer to invest and reinvest such funds on behalf of the district. The Board retains the right to revoke this authority at any time.
The Governing 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 all investment decisions. As such, he/she 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. (Government Code 53600.3, 53600.5)
(cf. 9270 - Conflict of Interest)
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.
(cf. 1220 - Citizen Advisory Committees)
The district's chief fiscal officer shall annually provide to the Board and any district oversight committee a statement of the district's investment policy or, if all district surplus funds are invested with the county treasurer, the county's investment policy.
The annual investment report shall be submitted no later than the end of the first quarter of the year to which it applies.
At a public meeting, the Board shall review this policy and discuss any changes to be made. (Government Code 53646)
41001 Deposit of money in county treasury
41002 General fund deposits and exceptions
41002.5 Deposit of certain funds in insured institutions
41003 Funds received from rental of real property
41015 Authorization of and limitation investment of district funds
41017 Deposit of miscellaneous receipts
41018 Disposition of money received
42840-42843 Special reserve fund
16430 Eligible securities for investment of surplus moneys
17581.5 Mandates contingent upon state funding
27000.3 Fiduciary for deposits in county treasury
27130-27137 County treasury oversight committees
53600-53609 Investment of surplus
53630-53686 Deposit of funds, especially
53635 Local agency funds; deposit or investment
53646 Treasurer reports and statements of investment policy
53852.5 Investment term for funds designated for repayment of notes
53859.02 Borrowing by local agency
2261-2262 Obligations of trustees; investments
Maximizing School Board Governance: Fiscal Accountability, 2005
School Finance CD-ROM, 2005
CALIFORNIA DEBT AND INVESTMENT ADVISORY COMMISSION PUBLICATIONS
Local Agency Investment Guidelines, 2002, rev. 2004
California State Treasurer's Office, California Debt and Investment Advisory Commission: http://www.treasurer.ca.gov/cdiac
Policy EL DORADO UNION HIGH SCHOOL DISTRICT
adopted: August 21, 2018 Placerville, California