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1. Tulare County Farm Bureau shall invest only in the following instruments, and with the following restrictions: a.) U. S. Treasury issued securities in any amount. (bills, bonds, notes, etc.) b.) FDIC insured bank deposits not to exceed $100,000.00 in any savings institution at any one time. c.) A minimum amount equal to one and one half years operating monies shall be maintained in accordance with 1a and 1b. All remaining money may be placed in other investments for long term returns with all interest and dividends to be retained within the investment account. 2. The Finance Committee shall be responsible for determining necessary cash flows for investing purposed, and further be responsible for selecting financial agents to carry out investments as specified in Section 1. In the event the financial agent recommends moving investments from one fund to another, action may be taken with the approval by 2 of the Treasurer, President or Executive Director. The Finance Committee shall be notified as soon as possible following the action. 3. The Finance Committee shall review and report to the Board of directors quarterly. The committee will review: a.) Current investments b.) Previous years investments and rate of return for the previous 12 months. c.) Any potential loss of capitol d.) Plan for investments and cash flow for the succeeding 12 months. Adopted March 13, 1997 Retirement Fund The bonds formerly assigned to Sarah Smith retirement be returned to the general fund and that employee retirement be increased to 9%. The amount of retirement will be looked at each year during the budget process. Adopted June 8, 2000 Special Issues Account It was moved, seconded and carried that TCFB set up a Special Issues Fund Checking account in the amount of $20,000.00 with which no dues money has been co-mingled. Amended July 31, 2007
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