DFA/DFAA, Revenues From Investments/Use of Surplus Funds
DFA/DFAA, Revenues From Investments/ Use of Surplus Funds
This policy shall apply to the investment of all financial assets and all funds of the district over which it exercises financial control.
In order to promote effective use of the district's cash resources, district funds shall be pooled as much as legally possible in order to maximize return on investment. Moneys of pooled funds shall be accounted for separately. The investment income from pooled accounts shall be credited to the various contributed accounts proportionately to their average monthly balance.
All district funds allocated to a specific use but temporarily not needed shall be invested by the treasurer, assistant treasurer or other administrator appointed by the Board in accordance with state law and in a manner designed to accomplish the following objectives: insure the safety of district funds, insure that adequate funds are always available to meet the financial obligations of the district when they become due, and earn a market rate of return throughout the budget cycle on the funds available for investment.
Adopted prior to 1985
Revised March 21, 1988
Revised November 4, 1992
Minor Revision August 18, 2004
Minor Revision January 24, 2005
Legal References
- C.R.S. 11-10.5-101 et seq.
- C.R.S. 11-47-101 et seq.
- C.R.S. 11-60-101 et seq.
- C.R.S. 22-32-107
- C.R.S. 22-45-103 (bond redemption fund trustee or escrow requirement)
- C.R.S. 24-75-601 et seq.
- C.R.S. 24-75-701 et seq.