January 8, 2019 at 6:55 PM - Board of Finance
| Minutes |
|---|
|
I. Call to Order
|
|
II. Roll Call
|
|
III. Opportunity for Public Input
|
|
IV. New Business
|
|
IV.1. Declare that the South Harrison Community School Corporation Board of Finance will be comprised of all board members
|
|
IV.2. Declare that the elected Board President and Board Secretary will also serve as Board of Finance President and Secretary
|
|
IV.3. Grant Administration permission to adjust appropriations between accounts as necessary
|
|
IV.4. Review Report of Investments and Investment Policy 6144
Description:
South Harrison Community School Corporation Bylaws & Policies 6144 - INVESTMENT INCOME
The School Board authorizes the Corporation Treasurer or Deputy Treasurer to make investments of available monies from the several funds of the Corporation in: A.bonds, bills, or notes of the United States; obligations, the principal and interest of which are fully guaranteed by the United States; or obligations of the State; B.certificates of deposit issued by financial institutions organized and authorized to operate in this State. The purpose of the investments is to maximize the returns on the Corporation's excess cash balances consistent with safety of those monies and with the desired liquidity of the investments. An obligation shall be deposited with the bank or trust company having the deposit of the money of the particular fund from which the obligation was purchased. Money in several funds of the Corporation may be commingled for the purpose of making an investment. The Treasurer may also join with other school treasurers, in the regional service region, for the purpose of investing Corporation funds. S/He shall account for such investments separately. The Board may authorize the Board’s investing officer to invest in certificates of deposit from depositories that have been designated by the State Board of Finance as a depository for State funds under I.C. 5-13-9-5 but have not been designated by the Corporation’s Board of Finance established by Board Bylaw 0151.1. This authorization shall be in the form of a resolution approved by the Board. Such resolution must provide that the authority to invest in these certificates of deposit granted by the resolution expires on a date that is not later than two (2) years after the date of the Board’s vote adopting the resolution. I.C. 5-13-9, 20-26-5-4 I.C. 5-13-9 –Deposit and investment of public funds I.C. 5-13-9-5(a) – Authorization to invest in certificates of deposit I.C. 20-26-5-4 – Specific powers I.C. 36-1-2-10 – "Municipal corporation" defined to include "school corporation" I.C. 36-1-2-13 – "Political subdivision" defined to include "municipal corporation" State Board of Accounts Public Schools Manual Part 14 Revised 5/6/14 |
|
IV.5. Designate First Harrison Bank and First Savings Bank as depositories for corporation funds
|
|
IV.6. Adopt Resolution for Investments
Description:
recommendation to adopt resolution as submitted
|
|
V. Adjournment
|