Procedure

Pursuant to N.C.G.S 115D-58.6 he College may deposit all or a part of the Cash Balance of any fund in an Official Depository and shall manage the investments subject to the Board’s restrictions.  The investment program shall be so managed that investments and deposits can be converted to cash when needed.  All investments shall be secured.  The Board shall appoint a Finance / Investment Committee (“Committee”) which shall consist of a minimum of three (3) people who have sufficient financial background to review and evaluate the College’s investment options.  These individuals should have experience in institutional or retail investment management with knowledge of fixed income and public equities.  The Committee shall make recommendations to the Board on those investment options as well as monitor the performance of investments once made.  With respect to investments, the Board shall discharge their duties with respect to management and investment of College funds as follows:

1. Investment decisions shall be solely in the interest of the College and the students, faculty and staff.
2. Investments shall be for the exclusive purpose of providing an adequate return to the College.
3. Investments shall be made with the care, skill and caution under the circumstances then prevailing which a prudent person acting in a like capacity and familiar with those matters would use in the conduct of an activity of like character and purpose.
4. Investment decisions shall be made impartially, considering the College’s best interest, with special attention to conflict of interest or potential conflicts of interest.
5. Investments shall incur only costs that are appropriate and reasonable.
6. Current Investment Policy Statement

 

Revised/Updated: