Cash Management and Invest | Clover Park Technical College
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Cash Management and Invest

3.18

Policy

The Vice President for Finance and Administration has been delegated the responsibility for managing the college’s invested assets in a manner consistent with state and federal law and that improves the college’s financial position consistent with mission achievement.

Procedure

Strategic reserve – The college is mandated by the Board of Trustees to generate and retain a strategic reserve equal to 90 days of annual operating expenses for adequate cash flow, mitigation of revenue shortages and to allow multi-year planning. The college may invest this reserve in a manner consistent with its investment policy and its long-term cash needs.

Investments – The college will use the following three criteria in managing its investment assets

  • Safety – Assets will be invested in instruments that guarantee the preservation of principal.
  • Liquidity – Assets will be invested in instruments that provide access to principal and earning in a manner that is consistent with the college’s cash flow and operational needs
  • Yield – Assets will be invested in instruments that provide a competitive yield, within all applicable legal and policy restrictions and guidelines.

All investments will be made in accordance with state and federal guidelines. The Washington State Treasurer’s Local Government Investment Pool may be utilized as an investment option for the college in a manner that is consistent with this policy.

The Vice President for Finance and Administration shall be responsible for all college investment decisions.

Reporting – The Vice President for Finance and Administration shall report a minimum of once per quarter to the College President and to the Board of Trustees regarding the college’s investments.

 

Adopted: 1999

Revised:  2010, 2016