Section 3357:15-16-07 - Investments and cash management(A) Purpose: to provide a framework for the prudent management of all public funds and to invest public funds in a manner that will provide the highest investment return with the maximum security, safety and preservation of principal while meeting the daily cash flow demands of the college, in accordance with all applicable statutes governing the investment of public funds.(B) Authority: The authority to conduct the purchase and sale of investments is limited to the treasurer who may delegate such responsibility with appropriate oversight to the comptroller and budget director. The treasurer will adhere to this stated policy, including Chapter 135. and sections 3357.10 and 3345.05 of the Revised Code, and all other applicable provisions of the Ohio Revised Code.(C) Scope: The scope of this investment policy applies to all financial assets of the college, including state and federal funds held by it. The treasurer and/or staff will routinely monitor the contents of the college's investment portfolio, the available markets, and relative value of competing investments, and will adjust the portfolio accordingly. Cash will be consolidated with reserve balances from all funds to maximize earnings and to increase efficiencies with regard to investment pricing safekeeping and administration. This policy is intended to be consistent with rule 3357:15-16-06 of the Administrative Code ("Financial Planning, Cash Flow, of the Policies and Procedures Manual.")Ohio Admin. Code 3357:15-16-07
Effective: 6/7/2021
Promulgated Under: 111.15
Statutory Authority: 3357.09
Rule Amplifies: 3357.09
Prior Effective Dates: 02/23/2015