From time to time the School District has funds on hand which are surplus to its immediate requirements. These funds are to be utilized in a manner designed to achieve a maximum rate of return consistent with a minimum level of risk.
The Secretary-Treasurer shall deposit these funds in a major Canadian chartered bank or credit union or invest them provided that:
a) The security is a permitted investment under the Trustee Act.
b) The risk associated with the security is judged by the Secretary-Treasurer to be not significantly greater than that of a deposit in a major Canadian chartered bank.
Greater Victoria School District
Adopted: October 22, 1984
Reviewed: October 21, 2013