Office of the Superintendent of Schools
Office of Finance and Operations
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Approval of Local Government Investment Pool U.S. Fixed Income Trust And Its Texas Public Funds Investment Pools
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The administration seeks School Board approval for the district to participate in the government investment pool, U.S. Fixed Income Trust (US FIT), and its local public funds investment pools, Texas Public Funds Investment Pools (Texas FIT or TX-FIT). This 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. Local government investment pools are an approved investment instrument in compliance with the district Cash Management and Investment Policy and the Public Funds Investment Act.
Attached is the resolution authorizing participation in the US FIT investment pool.
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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 approves the attached local government investment pool resolution to provide the district with an additional investment option emphasizing safety and liquidity, effective March 22, 2024.