6144 - INVESTMENT INCOME
The Board authorizes the Business Manager to make investments of available monies from the funds of the District on a competitive basis in:
time deposits in any credit union, bank, savings bank, trust company, or savings and loan association which is authorized to transact business in the State, if the time deposits mature in not more than three (3) years;
bonds or securities issued or guaranteed as to principal and interest by the Federal government or by a commission, board, or other instrumentality of the Federal government;
bonds or securities of any county, city, drainage district, technical college district, village, town, or school district in the State;
other securities authorized by 66.0603, Wis. Stats.;
the local government pooled-investment fund;
in federally insured financial institutions through a re-deposit agent designated by the Board, pursuant to 34.05, Wis. Stats.
The purpose of the investments is to maximize the returns on the District's cash balances consistent with safety of those monies and with the desired liquidity of the investments.
The Business Manager is authorized to contract with a depository for the operation of a cash management system under the following conditions:
- the contract is in writing
- the contract provides for the investment of funds by the depository with the written approval of the Business Manager
- the depository keeps all records concerning investment cash management
- the investments are made in accordance with State law with maturities not to exceed three (3) years.
T.C. 10/20/25
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