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Bridal Bobak recommends streamlining district investment policy to mirror government code
Summary
Bridal Bobak, director of finance and administration, recommended formally numbering and simplifying the district's investment policy so it references state government code for allowed investment vehicles, giving staff more flexibility to act on qualifying opportunities. Board members asked about derivatives and crypto; staff said they would not recommend risky instruments.
Bridal Bobak, the district's director of finance and administration, told the board the existing investment policy (approved 2010; amended 2013) lacks a policy number and lists specific investment options that staff recommend replacing with a direct reference to the government code. "This item in an ongoing effort to update and modernize our district policies, we're bringing forward a recommendation to amend our investment policy," Bobak said, explaining the change would "simplify the existing policy" and allow the district to act more quickly when qualifying investment opportunities arise.
Board members asked whether referencing the government code would mean the district automatically adopts any future changes; staff and advisors said the government code rarely changes and the policy would still require board or finance-committee approval for new investment options. When asked about derivatives or crypto-related instruments, staff and advisors responded they would not recommend such risky products for the district's public funds. The presentation concluded with staff recommending the amendment for consent and that any new investment options would still come before the board and finance committee for approval.
