The purpose of this policy is to provide efficient, ethical and consistent guidelines for the investment of Delta State University’s cash reserves. Cash reserves are defined as funds in the University’s accounts not required at that point in time to maintain adequate bank balances or to repay outstanding financial obligations.
Only those investments permissible under State of Mississippi law in Section 27-105-33 (1972) are allowable.
Income earned from investments made under this policy will be distributed on an annual basis to specific funds within the University based on the average daily claim to cash for each of these funds as a percentage of the total average claims to cash for the same period.
Delegation of Authority
The ultimate responsibility for the monitoring and supervision of the investment manager lies with the President of the University and designee, the Vice President for Finance and Administration. The Vice President for Finance and Administration and the Comptroller shall meet quarterly with the Investment Manager to set and review asset allocation guidelines, review performance, and set investment return goals for budgetary purposes.
Responsible Office and/or the Policy Owner: Finance and Administration
Policy Effective Date: January 9, 2012
Approval Date: January 9, 2012