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50.C - Depository of Funds and Investments

Board Policy Code: 50.C
Adopted: 04/26/78
Revised/Readopted: 09/09/81, 09/11/91, 06/11/14

The president is the custodial officer of funds within the meaning of ORS 294.035 and is authorized to make ongoing investments of available funds without the requirement for further Board of Education approval or directives.

Investments shall be distributed or rotated among local banks and savings and loan associations, insured by FDIC or FSLIC, in such a manner as to provide reasonably fair and equitable business opportunities for all. However, maximizing the return on investments shall be the foremost consideration when deciding in which institution to invest funds.