# DFA - Revenues From Investments

**DFA - Revenues From Investments**

MSAD #35 considers an investment program a critical ingredient of sound fiscal management.<span class="Apple-converted-space"> </span>The Board authorizes an investment program for the purpose of securing a maximum yield of interest revenues to supplement other revenues for the support of the MSAD #35's educational program.

The investment program will be administered in a way that will ensure:

A. The continuous process of temporary investing of all fund balances and moneys available for investment purposes;

B. The maintenance (revised following each cash transaction) of a yearly cash flow chart that will provide data to assist proper planning and decision making regarding amount, duration and type of investments;

C. The use of an open competition system of bids and/or quotes to obtain the maximum yield possible on all investments from both local community and beyond-community financial institutions;

D. That all vendors using MSAD #35 funds provide statements to MSAD #35 of their collateral in the form of a list of the securities pledged at market value; and

E. That all MSAD #35 investments will be in compliance with the law.<span class="Apple-converted-space"> </span>(The legal references are listed at the end of this policy.)

<span class="Apple-converted-space"> </span>**Delegation of Authority**

MSAD #35 authorizes the school business executive and Superintendent to manage all activities associated with the investment program in such manner as to accomplish the objectives of this policy.<span class="Apple-converted-space"> </span>Their responsibilities will also include annual review and assessment of MSAD #35’s investment program and filing a report and recommendations annually with the Board.<span class="Apple-converted-space"> </span>The school business executive is further authorized to execute in the Board’s name any and all documents relating to the investment program in a timely manner and to confer with reputable consultants regarding investment decisions when necessary.

A monthly progress report of investments will be made to the Board.

<span class="Apple-converted-space"> </span>

Legal Reference: 20-A MRSA § 1312

30-A MRSA, Chapter 223, Subchapter 3-A

Policy Adopted: June 17, 2009<span class="s1"> <span class="Apple-converted-space"></span></span>