14B NCAC 15A .0904      INVESTMENTS

(a)  Each local board shall adopt an investment program suitable to its own needs and situation.  The investment program shall be designed so that investments and deposits at interest can be converted into cash when needed.

(b)  The finance officer shall manage the investment program subject to the directives and restrictions imposed by the local board and within the restrictions of applicable statutes.

History Note:        Authority G.S. 18B‑100; 18B-207; 18B-702(t),(u);

Eff. May 1, 1984;

Transferred and Recodified from 04 NCAC 02R .0904 Eff. August 1, 2015;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. August 22, 2015.