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Finance committee weighs extending investment maturities and trade-offs between locked rates and liquidity
Summary
Committee members discussed updating the district's investment policy (currently limiting maturities to 24 months) to allow longer maturities (up to five years was suggested), and debated whether to keep referendum bond funds in the state LGIP for immediate drawdowns or move some dollars to a private institution offering higher locked rates.
The Dorchester 02 finance committee discussed whether to update the district’s investment policy and how to balance liquidity needs with opportunities to earn higher, locked interest rates.
Staff told the committee that the district's board-adopted investment policy (policy DIA, adopted in February 2014) currently restricts maturities to 24 months and that the district follows state code "section 59 69 2 15." Staff said the committee should consider whether a longer maximum…
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