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Policy DFA
Investments
School Board Approved: March 20, 2019
The School Board authorizes the School District Treasurer working in conjunction with the Superintendent and his/her designee and pursuant to RSA 197:23-a to invest the funds of the district subject to the following objectives, investment parameters and standards of care.
Objectives:
The three objectives of investment activities shall be safety, liquidity, and yield.
Investment Parameters:
Funds shall be invested and collateralized in accord with the standards set forth in RSA 197:23-a. Investments shall be made in units in the public deposit investment pool established pursuant to RSA 383:22, or in deposits, including money market accounts, or certificates of deposit, or repurchase agreements, and all other types of interest bearing accounts, of federally insured banks incorporated under the laws of the state of New Hampshire or the federal government with a branch within the state and in obligations fully guaranteed as to principal and interest by the United States government To the extent possible, the District shall attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, the District will not directly invest in securities maturing more than thirty (30) days from the date of purchase, unless the investment instrument carries a no-penalty provision for the withdrawal of any portion or total of the investment together with interest earned.
Standards of Care:
This investment policy shall be reviewed annually by the School Board.
Legal References:
RSA 197:23-a, Treasurer’s Duties
RSA 383:22, Public Deposit Investment Pool
It is the intent of the Board to limit spending to the amount specified in each line item for the budget. However, the Superintendent is authorized to transfer funds between line items subject to procedures defined by the School Board when necessary to achieve Board policy goals, except that excess funds may not be transferred from the Unemployment Compensation line item. Any amount appropriated at an annual meeting under a special warrant article may be used only for the purpose specified in that article and shall not be transferred.
Legal References:
RSA 32:10, Transfer of Appropriations
RSA 282-A:71, III, Unemployment Compensation