It is the policy of Anne Arundel Community College to invest public funds, in conformance with applicable laws, in a manner which provides maximum safety with the highest investment return while meeting the daily cash flow requirements of the College. This policy shall apply to all public funds held by the College.
Public funds means any money held by the College that is not part of a pension fund, a fund for other postemployment benefits, a trust fund account or a facility closure reserve fund or for self-insurance purposes.
This policy allows the College to invest only in the types of securities set forth in and as permitted under Maryland regulations. The College’s investments must comply with the applicable sections of the State Finance and Procurement Article of the Maryland Code. The College is prohibited from borrowing money for the sole purposes of investment. The College’s investment manager may not invest public funds in a manner inconsistent with this policy. This policy follows the Local Government Investment Guidelines and Reporting requirements adopted by the State Treasurer.
The Vice President of Learning Resources Management or designee is designated as the financial officer who is responsible for the investment of public funds or the issuance and management of debt of the governmental entity.
The Board of Trustees hereby authorizes the President (or designee) to develop, maintain, and keep current appropriate procedures to implement and enforce this policy.
Policy Title: Investment Policy
Policy Category: Administration, Business and Fiscal Affairs
Policy Owner: Vice President for Learning Resources Management
Policy Administrator: Associate Vice President for Learning Resources Management
Contact Information: Andrew Little; aplittle1@minxueacc.com; 410-777-2227
Approval Date: October 13, 2020
Effective Date: October 13, 2020
History: Adopted on October 10, 1995; Revised October 13, 2020
Applies to: All employees
Related Policies: N/A
Related Procedures: N/A
Forms/Guidelines: N/A
Relevant Laws: N/A