The District will develop investment procedures in compliance with Government Accounting Standards Board (GASB) statement #40 and The Revised School Code of Michigan, Act 451 Sections 380.1221 and 380.1223. Annually, the board shall adopt a resolution authorizing the investment of the surplus funds of the District.

LEGAL REF:  MCL, 380.622, 380.1221, 380.1223

(P 8205)

Adopted:  7/1/1993

Revised:   6/2/05, 9/1/05