Investment and management of college funds will be in accordance with Chapter 115D, Article 4A of the General Statutes. Operational management of the budget and investments is delegated to the president and his/her designee by the Board. In addition, the Board may review budget and investment policies and procedures as needed for the purpose of recommending policy changes.
The Board adopts the following investment guidelines for the college:
- The highest rate of return with minimum risk should be obtained in order to maximize safety and yield of funds invested.
- Investments should provide no risk of loss in equities.
- Safety of principal should be assured through use of FDIC insured accounts or investments in U.S. Government securities.
- Both short-term and long-term investments should be utilized, but with maturities generally not exceeding five years.
- Funds used for current operations should be deposited in interest-bearing accounts at the highest available yield but retain sufficient liquidity to permit cash withdrawals for expenditures.
- Measurement of investment yield should be calculated and reported annually to the Board. This annual report should include a comparison with the previous year's performance and comparisons with standard market performance indicators.
VP Ops/Fin
BOT: November 28, 1989, July 20, 2010