Recently Amended CDA Policy - May 28, 2020
On May 28, 2020, the Board of Trustees approved amendment of the following policy:
CDA (LOCAL) OTHER REVENUES – INVESTMENTS
CDA Local is required to be annually reviewed by the governing body per Sec. 2256.005 of the Public Funds Investment Act and has incorporated changes by TASB Update 114.
TASB had several recommended revisions to this policy on investments to ensure alignment with recently enacted statutory revisions. TASB’s proposed revisions are based on the following:
HB 2706 allows investment of bond proceeds or pledged revenue only to the extent permitted by the Public Funds Investment Act and in accordance with relevant statutory provisions and the District’s local investment policy. Based on these new provisions, the policy revisions authorize investment of bond proceeds and pledged revenue to the extent allowed by law but clarify that bond proceeds may not be invested in no-load mutual funds.
Please visit http://www.boarddocs.com/tx/disd/Board.nsf/vpublic for Board adopted local policies.
The policy has been sent to the Texas Association of School Boards (TASB) for inclusion to the District’s “Policy On Line Manual.” Documents generally will post within a few weeks of adoption.