Part 4 Subpart 4-8 Investment Policy

Sec. 4-802. Investment Objectives for Short-Term Investment Pool Accounts.

Funds needed for expenditures in less than one year shall be considered short-term. The average weighted maturity for each short-term investment manager shall be between one day and one year. The primary investment objective for the short-term investment pool accounts shall be to provide for the preservation of capital, with a secondary emphasis upon the maximization of investment income without undue exposure to risk.

Types of investments that may be made include interest-bearing banking deposits such as certificates of deposits, high yield savings accounts, short-term cash funds, money market funds that maintain net asset value, commercial paper, bankers acceptances, repurchase agreements, U.S. Government obligations, U.S. agency obligations and/or short term corporate bonds with maturities under one year.