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

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