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Board reviews TASB Policy Update 123 and adopts investment policy resolution

Groesbeck Independent School District Board of Trustees · August 26, 2024
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Summary

Trustees considered the TASB Localized Policy Update 123 (multiple local policy codes) and adopted a resolution to adopt the district's investment policy (CDA(LOCAL)) consistent with Gov't Code ch.2256; policies reflect recent legislative and administrative changes.

Anthony Figueroa presented the second reading of TASB Localized Policy Update 123, which included recommended local revisions across numerous codes (BBD, BBFA, CCGB, CKC, CKED, CQC, DCE, DGBA, EEH, EF/EFA/EFB, FNG, GF and others). Explanatory notes in the packet summarize statutory changes from recent legislative sessions and Administrative Code amendments and recommend local language modifications.

The board also considered and adopted a resolution to formalize the district's investment policy (CDA(LOCAL)), incorporating Public Funds Investment Act requirements (Gov't Code Chapter 2256) and local procedures for investment officers, reporting and authorized instruments. The resolution language in the packet is dated Aug. 26, 2024, and directs the board to review investment policy at least annually.

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