Green Cove Springs, Florida
Agenda Item #43
Item Title
D-5 Public Hearing to approve as advertised School Board Policy 6GX-10-5.02F, Business Affairs, General Policies, Investment Policy
Issue/Rationale
The District's auditors, Purvis, Gray, and Company, LLC noted in finding 2013-6 of the audit report that an investment policy is required by Florida Statutes. District investment policies and practices are governed by Florida Statutes, Section 218.415, which states that investment activity by a unit of local government must be consistent with a written investment plan adopted by the governing body. Any such unit of local government shall have an investment policy for any public funds in excess of the amounts needed to meet current expenses. Such policies shall be structured to place the highest priority on the safety of principal and liquidity of funds.
Recommended Action
Approve the revisions to Policy 5.02F, Investment Policy.
Financial Impact
None
Submitted By
Susan Legutko, Assistant Superintendent for Business Affairs
Sonya Findley, Director of Finance
Attachment: Policy 5.02F, Investment Policy.pdf