ALIEF ISD board affirms annual investment review, approves training providers and brokers

The ALIEF ISD Board of Trustees voted Feb. 18 to adopt an ordinance acknowledging the district's annual review of its investment policy and to approve the district's list of qualified brokers and approved training sources for investment officers.

Julie Patterson, ALIEF ISD director of budget, told trustees the district's total portfolio at Dec. 31, 2024, was $388.3 million, with approximately one-third held in each of three AAA-rated investment pools and a smaller portion in government securities. Patterson said the portfolio mix emphasizes preservation of principal, liquidity and yield, and noted that the district keeps most holdings in short maturities (three to six months) to protect against market fluctuations.

Emily Littlefield, chief financial officer, said the district has benefited from higher interest rates in recent years, producing a large increase in interest earnings—“from a high of almost $20,000,000 this year to a low of $526,000 just three years ago,” Patterson reported—money district leaders said has helped the general fund.

Patterson reviewed the district's maturity schedule and explained that a small portion of the portfolio consists of longer‑term QSCAP securities reserved for repayment of bonds maturing in 2027; she said those securities represent about 3% of the total portfolio and are being reinvested into higher‑earning pools as they mature. She also reminded the board that state law requires the investment officer to take initial and periodic training under the Public Funds Investment Act, and noted that CFO Littlefield is registered for the initial training in May to meet the statutory requirement.

After trustees asked clarifying questions, Trustee Lily Truong moved to approve an ordinance stating the board had reviewed the investment policy and investment strategies; Trustee Rick Moreno seconded. The motion passed with five votes in favor, zero against and one abstention. Trustees then voted unanimously (6–0–0) to approve the district's list of approved training providers and the list of qualified brokers authorized to conduct business with the district.

The approved broker list and training sources remain unchanged from the prior year, Patterson said, and the district's internal controls and quarterly investment reports will continue to be reviewed annually by auditors.

The board did not direct further action beyond the approvals; the investment officer will complete the required training and staff will continue routine quarterly reporting to the board.