3500 Investment of Funds Procedure
Policy Details
Policy Name: Investment of Funds
Policy Number: 3500
Applicable Code/Law: RCW 39.60
Procedural Guidelines
The implementation of this policy shall be under the direction of the Vice President for Business or his designee. When investing College District funds, the following guidelines shall apply:
- Available funds for investment shall be determined by routine projections of cash flow requirements.
- Deposits for all funds shall be made with financial institutions that are designated a “Qualified Public Depository” by the Washington Public Deposit Protection Commission.
- Investments shall be consistent with appropriate provisions set forth in RCW 39.60 and other Washington State statutes regulating the investment of public funds.
- Investments and safekeeping agreements shall be made in accordance with guidelines and regulations issued by the Washington State Treasurer and the Washington Public Deposit Protection Commission. 5. Investments shall not be made in any organization that is known by the College to practice racial and/or sexual discrimination in the conduct of their business.
Approvals
Procedures Adopted: 12/20/85