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Board approves updated investments policy aligned to state statute
Summary
The board adopted Policy 702 (Investments and administrative guidelines) to align district policy with Minnesota state statute and to add an Exhibit A table to clarify investment options.
The Richfield School Board approved an update to Policy 702 (Investments and administrative guidelines) on Aug. 3, which administration said aligns district policy with Minnesota state statute and adds an Exhibit A table to show investment options. Superintendent Stevenowski described the changes as mostly branding until later pages where clarifications were added to reflect statutory updates.
"It is based mostly in Minnesota state statute and aligning very clearly the school board's association policy," Stevenowski said while presenting the recommended passage. Clerk Ken Liss moved to pass the policy and the board approved it by voice vote. Administration said the table in Exhibit A is intended to clarify the district's investment approaches and that finance staff contributed suggested changes.
