50.F - Depository of Funds and Investments

Board Policy Code: 50.F
Adopted: 1978-04-26T00:00:00
Revised/Readopted: 09/09/81, 09/11/91, 06/11/14, 06/09/15

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.

Deposits 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. Any surplus monies of the college shall be invested in interest bearing securities as specified in ORS 294.035