3292

Policy

Business

Investing

The board shall authorize the superintendent or his or her designee to invest such portion of monies from all district funds as may be determined to be temporarily in excess of monies needed to meet district obligations. Funds are to be invested in the legal depositories of Nebraska Liquid Asset Fund, Farmers and Merchants National Bank, Centennial Bank, or other legal depositories as designated by the board. All investments must be in government securities or in certificate of deposits which are secured by government insurance or securities. All monies placed in these designated depositories must be invested in federally insured or secured instruments yielding the highest return.

Legal Reference: R.R.S.

79-1043 School funds; investment; interest; repurchase agreements; securities; how held.

77-2350 School district or township funds; deposit; conditions.

Adopted: October 4, 1983

Revised: February 3, 1997

Revised: February 6, 2006