REVENUES FROM INVESTMENTS/USE OF SURPLUS FUNDS
(District Manages Its Own Investments)
The Board authorizes the superintendent to invest surplus school district moneys which are determined as not being immediately needed for the operation of the school district. The superintendent shall follow procedures established by the Board in making investments and obtaining the best interest rates possible. Collateralized investments will comply with the requirements of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
Investments may be made only in those instruments approved by, and in a method in conformity with state law including any instrument permitted by law for the investment of state moneys. All investment earnings shall be credited to the fund from which investments were made.
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Note: The reader is encouraged to check the index located at the beginning of this section for other pertinent policies and to review administrative procedures and/or forms for related information.
Legal Refs: Mo. Const., art. IV, ' 15
'' 30.260, 110.010 - .020, 165.051, .091, RSMo.
12 U.S.C. ' 1823(e)
Advance R-IV School District, Advance, Missouri