管理规章编号:5020-01

相关政策系列编号:5020

TITLE: ADMINISTRATION OF COLLEGE FUNDS — INVESTMENTS

目的
To establish parameters for the investment of college funds and related accounts

声明

范围
政府 of college monies for 林本顿社区学院 applies to all funds budgeted and accounted for in the college's annual financial report, with the exception of funds held in custody by the county treasurer.  任何免税的投资 borrowing proceeds and any related debt service funds shall comply with the arbitrage restrictions in all applicable Internal Revenue Codes.

Funds held by the county treasurer during tax collection periods and those held by the county fiscal officer in the 博天堂官方 District Bond Interest and Sinking Fund shall be governed by the county's investment policies and are not subject to the provisions 这个政策.

Deferred 员工 compensation funds are deposited at the direction of the individual 员工. They are not subject to review or investment policy of the College and are not subject to collateral requirements (ORS 294.033).

目标
Primary objectives in priority order in managing investment funds are:

  1. 保全本金投资;
  2. Liquidity to meet cash requirements; and
  3. Maximizing the rate of return on the portfolio.

The means of accomplishing these objectives are described throughout this administrative 规则.

绩效评估
The performance of the college portfolio will be measured against the performance of 地方政府投资池, using monthly net yield of both portfolios 作为衡量标准.

职责和权限
The Director of Accounting and Budget serves as the portfolio manager and is responsible for meeting day-to-day liquidity demands and investing all excess cash while adhering 符合ORS 294的规定.035至294.048或294.125至294.155, 这条行政规定. Any deviation from this administrative 规则 must be approved by the President or his/her designee. 投资组合经理不在的时候， the Vice President of Finance and Operations shall perform the duties.

项目组合的管理包括:

  1. The selection of securities for the investment of excess cash;
  2. Management of availability of funds to meet daily cash needs; and
  3. Preparing semi-annual reports for the Board 的教育 for investments outside of 地方政府投资池.

投资标准审慎
The portfolio manager and all other participants in the investment of the college's funds shall act responsibly as custodians of the public trust.

Investments shall be made under the prudent investor's 规则, which states:

"Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived."

The portfolio manager and other authorized investment personnel, acting in compliance with applicable Oregon Revised Statutes and this investment administrative 规则, shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported promptly to the Vice President of Finance and Operations and appropriate action is taken to 控制不利发展.

内部控制
Internal controls will be reviewed annually by the college's independent auditor. The internal controls are designed to prevent losses of public funds arising from fraud, 员工 error, misrepresentation by third parties, unanticipated changes in financial markets, or imprudent actions by 员工s or officers of 博天堂官方.

报告要求
The portfolio manager shall provide a portfolio performance report semi-annually to the Board 的教育 for investments outside of the Local Government Investment 池.

投资选择
The following shall be used as a guideline when placing investments:

  1. The college may invest up to 100 percent of its portfolio in the Local Government Investment 池 (LGIP) Oregon Short Term Fund (OSTF), which maximizes liquidity.
  2. Any investment vehicles outside of 地方政府投资池 (LGIP) Oregon Short Term Fund (OSTF) must be approved by the Vice President of Finance and Operations and must adhere to all applicable investment guidelines as set forth in ORS 294.035 到294年.048, OR 294.125至294.155.  专业投资服务必须 be utilized in the management of these funds and shall be obtained through a competitive Request for Proposals procurement process. The results of this procurement shall be 经审核和批准 & Professional Services Committee of the Board 的教育. 

 

会计方法
The college shall comply with all required legal provisions and Generally Accepted 会计原则(GAAP). The accounting principles are those contained in the pronouncement of authoritative bodies including, but not necessarily limited to, the American Institute of Certified Public Accountants (AICPA); the Financial Accounting Standards Board (FASB); and the Government Accounting Standards Board (GASB).

 

 

采用日期:1993年6月15日
DATE(S) OF REVISION(S): 08/23/94; 08/06/96; 10/31/16; 11/5/2020
上次审核日期:2016年10月31日