Policy & Regulation

Chapter 05.05 – Investments

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REGENTS’ POLICY
PART V – FINANCE AND BUSINESS MANAGEMENT
Chapter 05.05 – Investments

P05.05.010. Investment Objectives; General Funds. 

  1. If the chief finance officer determines that there is a surplus of money, received in the form of state and federal appropriations, above the amount sufficient to meet current and projected cash expenditure needs of the èßäÊÓƵ, the surplus will be invested in accordance with this policy. Income earned on investments made under this section will be retained by the èßäÊÓƵ and expended when appropriated by the legislature. In managing such invested assets, the chief finance officer will:
    1. consider the status of the assets and liabilities on both a current and a probable future basis; 
    2. determine the appropriate investment objectives; 
    3. establish investment guidelines to achieve the objectives; and 
    4. act only in regard to the best financial interests of the èßäÊÓƵ
  2. The chief finance officer may invest on the basis of probable total rate of return without regard to the distinction between principal and income.

(06-20-97)

P05.05.020. Cash Surpluses.

In accordance with AS 14.40.255, the chief finance officer will ensure that èßäÊÓƵ cash surpluses are invested in the same manner as state general funds under AS 37.10.070 and 37.10.071. The chief finance officer and the officer’s designee are hereby authorized, empowered, and delegated authority to:

  1. enter into agreements for banking, custodial, trustee, investment, and other financial services, including the establishment and maintenance of such accounts as considered necessary for the management and investment of èßäÊÓƵ funds; 
  2. act for and on behalf of the èßäÊÓƵ to carry out and perform transactions under the terms of such agreements; 
  3. designate other representatives and agents to act for and on behalf of the èßäÊÓƵ to carry out and perform transactions under the terms of such agreements; 
  4. authorize and designate such signatories on such accounts as deemed necessary by the chief finance officer; 
  5. certify as to the authenticity of specimen signatures of such agents, representatives, and signatories; and 
  6. perform all acts, not prohibited by regents’ policy, whether or not expressly authorized, that the chief finance officer considers necessary or proper in administering and safeguarding the assets.

(06-20-97)