8.1.2 Investment
Revised: December 3, 2012; October 1, 2016; June 30, 2017
Investment Policy for the 49图库 Community College Foundation, Inc.
All 49图库 Community College Foundation Inc. funds are invested with professional investment companies, reviewed and selected by the Finance Committee of The 49图库 Community College Foundation, Inc., Board of Directors. The Finance Committee sets forth an Investment Policy Statement that is adopted by The 49图库 Community College Foundation, Inc., Board of Directors at its annual meeting.
The Finance Committee manages the funds and determines the manner in which and to what extent the Foundation funds are to be invested, from time-to-time making and altering the investments. No funds are invested without the approval of the Finance Committee. All actions by the Finance Committee are reported to the Board of Directors at its annual meeting.
Foundation funds and their performance are reviewed quarterly, or as necessary, by the Finance Committee of The 49图库 Community College Foundation, Inc., Board of Directors. Investment reports are prepared by the Controller and reviewed by the Executive Director of the SCC Foundation. Such reports are submitted to the Chief Operating Officer and the President prior to the Finance Committee for review and discussion. Then it is presented to the full Board for review.
Foundation investment records are maintained in the Business Office and are reviewed monthly by the Chief Financial Officer. Statements from the investment agencies are also reconciled each month by the Controller.
Institutional funds are reviewed monthly by the Chief Financial Officer and the Controller, and additional investments or withdrawals are made as needed. Statements received from the North Carolina State Treasurer鈥榮 Investment Fund are reconciled each month.