Investment Policy

It shall be the Investment Policy of the North Coast Schools Insurance Group (NCSIG) to:

A) Maintain the safety and liquidity of its funds as the primary investment objective. Safety of principal is the foremost objective.  The investment factors NCSIG shall consider are the following:

1. State Law (Sections 53601 and 53601.1 of the California Government Code);
2. Safety of invested funds;
3. Sufficient liquidity to meet future cash flow requirements;
4. Concern as to the source of funds available for investment (Public monies from member Districts); and
5. Maximum yields consistent with the aforementioned requirements

B) To limit investments instruments to:

1. Federal Government and/or Federal Government Agency Securities;
2. State of California issues;
3. Humboldt County Treasurer;
4. Local Agency Investment Fund (“LAIF”);
5. California Asset Management Program “CAMP”;
6. Time Certificates of Deposit further limited to:
   1. Financial institutions insured by the Federal Savings and Loan Insurance Corporation and/or the Federal Deposit Insurance Corporation, up to the maximum insurability of these funds; and
   2. Financial institutions licensed by the State of California and the Federal Government; and
   3. Financial institutions with offices located within the State of California;
7. Any other investment vehicle which falls within the Sections 53601 and 53601.1 of the California Government Code.

C) This Policy shall be reviewed at least annually to ensure its consistency with the objective of income, growth, and safety and changes in applicable laws and financial trends.

D) Investments shall be limited to the parameters of this Investment Policy.

Any proposed amendments to the Investment Policy will require approval by an affirmative vote of a majority of the members of NCSIG.