Office of the Superintendent of Schools
Office of Finance and Operations
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Adoption Of A Resolution Regarding Securities And Exchange Commission Registered No-Load Money Market Mutual Funds Compliant With Federal Securities And Exchange Commission Rule 2a-7, Promulgated Under The Investment Company Act Of 1940
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The administration seeks School Board approval for the district to participate in the money market mutual funds managed by JP Morgan Chase, specifically the JPMorgan U.S. Government Money Market Fund (MJGXX) and the JP Morgan US Government Money Market Fund Institutional Class (IJGXX). These funds will provide the district with an additional investment option emphasizing safety and liquidity. Approval of the attached resolution is required for the district to proceed with the investment of funds. Securities and Exchange Commission (SEC) registered government money market funds are an approved investment instrument in compliance with the district Cash Management and Investment Policy and the Public Funds Investment Act.
A copy of the resolution authorizing participation in the JPMorgan U.S. government money market funds is attached.
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COST/FUNDING SOURCE(S): |
None |
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STAFFING IMPLICATIONS: |
None |
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THIS ITEM DOES NOT ESTABLISH, MODIFY, OR DELETE BOARD POLICY.
recommendation
RECOMMENDED: That the School Board adopts the attached resolution to provide the district with an additional investment option emphasizing safety and liquidity, effective June 12, 2026.