Investments and Depositories

1.0    Purpose

This policy establishes guidelines to manage effectively the college’s investment funds.

2.0    Revision History

3.0    Persons Affected

3.1    Employees responsible for managing investment funds.

4.0    Policy

The policy of Casper College is to ensure the following.

4.1    The college establishes a Statement of Investment per Wyoming statute.

Statement of Investment
Casper College invests public funds in a manner that will provide a reasonable rate of return while assuring maximum safety of the principal, meeting the liquidity needs of the college, and conforming to a standard of conduct.

Return. The objective of the college’s investment activities is to attain a reasonable rate of return throughout budgetary and economic cycles, within acceptable safety and liquidity perimeters.

Safety. Safety and preservation of principal is the most important objective of the college’s investment program. Investments must be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio.

Collateralization. All authorized depositories must pledge 110% of the principle investment amount before funds can be transferred. The pledge must remain in place until the investment matures.

Liquidity. The investment portfolio shall remain sufficiently liquid to meet all reasonably anticipated financial needs and obligations. The investment portfolio will be structured so that securities mature concurrently with anticipated cash requirements. While the college purchases securities with the intent of holding them to maturity, it may liquidate early to maximize the total return on assets or to compensate for temporary liquidity shortfalls.

Standard of Conduct. The college will conform to all federal, state, and local laws and regulations governing the investment of public funds.

4.2    The Board of Trustees has approved the vice president of administrative services (VPAS) to serve as the investment officer and to invest college funds under the established guidelines. The VPAS will assign responsibility to invest college funds to appropriate Accounting and Financial Management employee(s).

4.3    The college has a means to monitor and evaluate investments.

5.0    Definitions

5.1    Depositories. These are financial institutions approved by the Board of Trustees to hold institutional funds. The college may only use depositories that meet State of Wyoming requirements for depositories. The institution must be a bank or saving and loan association incorporated under Wyoming law, national bank, federal savings and loan association, or federal savings bank. All deposits must be fully insured by the Federal Deposit Insurance Corporation or secured by a pledge of collateral or the furnishing of a surety bond. All deposits are subject to payment on demand, given proper notice for a savings and loan association, if required. Interest will be paid on the deposits.

6.0    Responsibilities

6.1    The VPAS is responsible for maintaining compliance with this policy.

7.0    Procedures

7.1    The Board of Trustees annually designates depositories in which the college may deposit institutional funds.

7.2    The director of financial services provides the Board of Trustees with an investment report at their monthly meeting.