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CASH MANAGEMENT AND INVESTMENT POLICY

Policy Number: 
Board File: DFA

Policy Statement:

In order to effectively make use of the District’s cash resources, the cash associated with the general, full day kindergarten, capital projects, risk insurance, enterprise funds (nutrition services, before and after school enterprise fund, outdoor education fund), pupil activity and special revenue funds shall be pooled into one investment account but accounted for separately by their fund designation. The bond and COP (certificates of participation) building funds shall each have separate investment accounts maintaining its own investments. 

Each such investment account and any other periodic investments accessed to maximize interest returns shall conform to Colorado Revised Statutes C.R.S. 24-75-601.1 – Legal investments of public funds. The timeframe for these investments shall not exceed the three to five years indicated but may be extended with Board of Education approval. The Superintendent is authorized to issue regulations to implement this policy.  In addition, any investment decision associated with any of the above accounts shall undergo a competitive process with broker/dealers who have been authorized by the District.  A minimum of two broker/dealers shall be contacted for each transaction and their bid and offering prices shall be recorded. 

The bond redemption fund shall be maintained separately and the District shall maintain a third party trustee to pay debt related to bonds issued under the Colorado State Treasurer’s Intercept Program conforming to C.R.S. 22-45-103 (1) (b).

 

Adopted: June 20, 2000
Revised: December 3, 2002
Revised: July 6, 2004
Revised: October 18, 2005
Revised:  August 6, 2013

 

LEGAL REFS.:
C.R.S. 11-10.5-101 et seq.
C.R.S. 11-47-101 et seq.
C.R.S. 24-75-601 et seq.
C.R.S. 24-75-701 et seq.

 

CROSS REF.:
DG/DGA, Banking Services (and Deposit of Funds)
Formerly titled: DFA/DFAA, Revenues from Investments/Use of Surplus Funds