I. INVESTMENT POLICY
A. Scope - This investment policy applies to all monies and other financial resources available for investment on its own behalf or on behalf of any other entity or individual.
B. Objectives -The primary objective of the library's investment activities are, in priority order:
1. To conform with all applicable federal, state and other legal requirements (legal)
2. To adequately safeguard principal (safety)
3. To provide sufficient liquidity to meet all operating requirements
(liquidity)
4. To obtain a reasonable rate of return (yield)
C. Diversification - It is the policy of the Richards Free Library to diversify its deposits and investments by financial institution, by investment instrument and by maturity scheduling.
D. Internal Controls - The board decides and the treasurer executes.
E. Investments -
+ Special time deposits
+ Certificates of deposit
+ Obligations of the United States of America
+ Obligations guaranteed by agencies of the United States where payment of principal and interest are guaranteed by the United State of America
+ Other investments decided by the Board of Trustees
