The North Kings GSA board approved investment policy No. NKGSA-ACCT-507 detailing how the GSA can invest, and for how long.
Following the approved investment policy, the Board of Directors approved the North Kings GSA Resolution No. 22-16 to authorize investments in the Local Agency Investment Fund (LAIF), and file with the State Treasurer’s Office.
LAIF is a program that offers local agencies the opportunity to participate in a major portfolio with the investment expertise of the California State Treasurer’s Office investment staff. The program functions at no additional cost to the taxpayer.
The investment fund is safe, liquid, and follows all guidelines of safety, liquidity, and yield. Both the investment policy and the resolution passed unanimously. Moving forward, the Board will receive quarterly updates on how the investments are performing and can take action to withdraw funds if needed.