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Barre Town Supervisory District Policy Manual TITLE: Revenues From Investments CODE: DFA Certificates of deposit may only be purchased from a bank that carries a risked-based capital ratio that meets FDIC minimum standard unless they are fully collateralized. Under no circumstances will the district purchase a CD from an institution with a ratio that is less the 8% (total capital). Banks will be required to forward their risked based-capital ratios to the district upon request. Management responsibilities for the
investment program are delegated to the Superintendent and implemented
through the Business Manager. Considering the importance of the
investment operation, the investment officer(s) shall remain current in
his/her knowledge of investment operation and techniques. The system of
internal controls for investments shall be reviewed annually by the
district’s independent auditor. 1st Reading: 5/10/00 , 2/7/2007 Date Revisited: |