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Conroe ISD reports $220.5 million general fund, committee backs investment policy for full board
Summary
At an Audit & Investment Committee meeting, district staff reported a general fund portfolio of $220.5 million, a combined portfolio above $1 billion, and recommended an updated investment policy; the committee voted to recommend the policy to the full board.
Chairman Dungan called the Conroe Independent School District Audit & Investment Committee to order and heard the district's annual investment report from finance staff Miss Westrup, who said the district's general fund portfolio totaled $220,500,000 and that the combined portfolio exceeded $1,000,000,000. "Our investment strategy has remained unchanged, and the primary focus is always on the safety of principal," Westrup said. She told the committee the district invests operating funds in state investment pools, Woodforest National Bank, commercial paper and short-term government securities of one year or less and that the district has $50,000,000 of unassigned general fund balance placed with HUB Investment Partners in a 36-month ladder. The combined portfolio…
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