Adopted: 09/19/2005

652-Rule

School District of Prairie Farm

Guidelines for the Investment of District Funds

The following guidelines shall govern the investment of district funds:

1. When making investment decisions, the District Administrator or designee shall

take into account the:

a. Competitiveness of the interest rates while taking into consideration the

local institutions which principally serve and benefit the district;

b. Security of the individual investment;

c. Financial stability of the institution;

d. Restrictions imposed by state and federal laws and regulations; and

e. Limits of the Federal Deposit Insurance Corporation (FDIC). 

2. District funds may be invested in special time deposit accounts or certificates of deposit issued by an institution located and authorized to do business in the state of Wisconsin, provided the account or certificate:

a. Shall be payable within such time as the proceeds shall be needed to meet expenditures for which such monies were obtained; and

b. Is secured by a pledge of obligations of the United States of America or the state of Wisconsin.

3. Funds may be invested in an institution(s) or fund(s) designated as an official depository(ies) for district funds.

4. The district shall seek protection for monies deposited in one (1) institution in excess of FDIC limits and the State Deposit Guarantee Fund.

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