Board Policy

BP 3430

Business and Noninstructional Operations

Investments

In order to maximize interest income, the Board authorizes the Superintendent or designee, in consultation with the Los Angeles County Treasurer, to invest all or part of the special reserve fund of the district or any surplus monies not required for the immediate necessity of the district and/or controlled by the Los Angeles County Treasurer's Office. Such investments will be restricted to either U.S. Treasury Notes, U.S. Treasury Bills, or the Los Angeles County Pool.

The administration shall inform the Board of its recommendation and secure Board approval prior to making any investment in either U.S. Treasury Notes or Bonds.

(cf. 3020 - Fiscal Policy Team)

(cf. 3452 - Student Activity Funds)

(cf. 3460 - Financial Reports and Accountability)

(cf. 9270 - Conflict of Interest)

Legal Reference:

EDUCATION CODE

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

GOVERNMENT CODE

16430 Eligible securities for investment of surplus moneys

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

Policy PALOS VERDES PENINSULA UNIFIED SCHOOL DISTRICT

adopted: October 4, 1999 Palos Verdes Estates, California

revised: March 22, 2001