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Red Oak ISD trustees adopt investment recommendations, informally approve list of qualified brokers
Summary
The board accepted the annual investment report required under the Public Funds Investment Act and moved to adopt the districts recommended list of qualified brokers; trustees were told the district earned about $5.2 million in interest on roughly $80 million invested.
Trustees of the Red Oak Independent School District reviewed and accepted the districts annual investment report and informally adopted a recommended list of qualified brokers during Mondays meeting.
Dr. Johnston presented the annual report, noting the district must comply with the Public Funds Investment Act and the board must review the list of qualified brokers. "Investments in the state of Texas are dictated by the Public Funds Investment Act for…
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