Policy DFL: Investment Earnings

BOARD POLICY
Descriptive Code: DFL

INVESTMENT EARNINGS
Date: JANUARY 4, 1999

Funds received above operating expenses shall be invested to generate additional revenues. The amounts to be invested shall be determined by analysis of cash flow.

Interest shall be earned from four sources:

1. NOW account for checking accounts at depository of funds.

2. Insured money market accounts at depository of funds.

3. Certificates of deposit based on bids submitted by banks within the county.

4. Local Government Investment Pool deposits.

All interest earned shall be deposited to the proper Board of Education account as specified by the Georgia Accounting Handbook and expended accordingly.

ADOPTED: 8/16/88
REVISED: 11/15/88

Newton County Board of Education