School District of Clay County Green Cove Springs, Florida

Teacher Inservice Center - Fleming Island High School 2233 Village Square Parkway Hearings for Special Actions regarding Students - 4:30 p.m. Regular Meeting - 7:00 p.m.

August 21, 2008 Regular Meeting Agenda Item #55 Item Title Authorization to approve a Reserve Account with Hancock Bank of Florida Issue/Rationale Currently the District invests funds with the SBA at a LGIP daily rate of 2.31% and with Wachovia at 1.85%.  Creating a Reserve Account will provide the district the ability to diversify district funds at competitive rates. Recommended Action Approve the recommendation to establish a Reserve Account with Hancock Bank of Florida. Financial Impact Current Investment Rate 2.76% fixed rate through 2008. Submitted By Dr. George F. Copeland, Assistant Superintendent for Business Affairs Attachment:  Hancock20080813100128934.pdf