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
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