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Board reviews investment policy, adds district accountant as secondary investment officer
Summary
Trustees approved the annual investment policy review required by the Public Funds Investment Act and authorized adding the district accountant as a secondary alternate investment officer; staff reported no other policy changes and noted laddered two-year investments yielding about 4.7%.
Magnolia ISD trustees approved the district's annual review of its investment policy and investment strategies and authorized adding the district accountant as an alternate secondary investment officer. Doctor Morris presented the required review under the Public Funds Investment Act and said the administration recommends no substantive policy changes. He noted a prior change increasing permitted maturities from one to two years and described laddered certificates of deposit and pooled investments currently contributing to a roughly 4.7% return on some longer-term holdings. Morris said the only recommended addition to the resolution is wording naming the district accountant as an alternate secondary investment officer for 2025'6. Trustees asked whether the laddered approach affected the district's 90-day liquidity metric; Morris said the district still maintains required cash balances and the laddered investments are structured to preserve cash flow.
