Fla. Admin. Code Ann. R. 6A-14.0765 - Investment of Funds
The investment of funds by community colleges shall be in accordance with the classification of funds in the accounting manual incorporated in Rule 6A-14.072, F.A.C.
(1) Current funds, plant funds, and agency
funds may be invested as authorized in Section
218.415, F.S.
(2) Boards of trustees shall have authority
to designate that funds due it be placed for investment in its account with the
State Board of Administration investment pool or other authorized State
investment pool account, rather than be deposited, and the board of trustees
may direct those persons having money due to the board of trustees to pay such
funds to the authorized State investment pool to make authorized investments
for its accounts.
(3) Loan,
endowment, annuity, and life income funds may be invested in securities in
which the State Board of Administration is authorized to invest retirement
funds pursuant to Section
215.47, F.S. To make such
investments, the board of trustees shall adopt and adhere to an investment plan
as described in Section
215.475, F.S. The investment
plan shall be submitted to the State Board of Administration for review and
comment. The college shall make all records of the entire investment operation
available to the Auditor General for annual audit. Loan, endowment, annuity,
and life income funds also may be invested pursuant to subsection (1)
herein.
Notes
Rulemaking Authority 1001.02(1) FS. Law Implemented 1010.01, 1010.02 FS.
New 12-19-74, Formerly 6A-8.14, Amended 12-26-77, 5-14-85, Formerly 6A-14.765, Amended 8-29-89, 4-30-93, 8-28-95, 6-18-96, 7-20-04.
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