6670 - TRUST AND AGENCY FUNDS

The Board directs the establishment of Trust and Agency Funds for the financial administration of trusts operated by and duly approved by the Board.

The Director of Business Services shall be responsible for the administration of Trust and Agency Funds. Funds will be audited annually and will be administered under appropriate accounting controls. The books of account will record income and expenses separately for each approved area.

Post-Employment Benefits

Funds held in trust for post-employment benefits may be invested and re-invested in the same manner as is authorized in Policy 6144. Interest derived from these investments shall accrue, except as otherwise provided by law, to these designated trust funds.

© Neola 2006