FILE:  DN

Cf:  DFL

SURPLUS FUNDS

The Assumption Parish School Board may invest any funds which are available for investment and are above the immediate cash requirements of the Board, from whatever source derived, in United States Savings Bonds, treasury notes, or certificates, or time certificates of deposit in state banks organized under the laws of Louisiana, and national banks having their principal office in the State of Louisiana, or any other federally insured investment.  The interest earned on any such investment shall be credited to the fund from which the investment was made.

The Board shall authorize its President and Superintendent, as treasurer, to invest any surplus funds in whatever type deposit that will offer the Board the most favorable rates of interest.

The Board desires that any surplus funds in the various school and organization accounts be invested in short-term treasury bills and/or bank certificates of deposit, whenever possible.

Ref:     La. Rev. Stat. Ann. §§17:99, 33:2955

Assumption Parish School Board