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NORTH COUNTY <br /> TRANSIT DISTRICT <br /> Board Policy No. 9 <br /> Investment Policy <br /> Summary <br /> This document establishes the North County Transit District (NCTD) investment policy, pursuant <br /> to Resolution No. 17-10, dated October 19, 2017. <br /> Introduction <br /> The investment policies and practices of NCTD are based on California State law and prudent <br /> money management. The primary goals of these policies are: <br /> 1. To protect the investment principal. <br /> 2. To ensure compliance with federal, state, and local laws governing the investment of <br /> funds. <br /> 3. To meet liquidity needs. <br /> 4. To generate the maximum amount of investment income within the parameters of prudent <br /> risk management. <br /> Scope <br /> In accordance with NCTD Board of Directors (Board) resolutions and amendments by the Board <br /> thereto, the Chief Financial Officer is the Treasurer and is responsible for investing surplus cash. <br /> This investment policy applies to the investment activities of NCTD. The daily management <br /> responsibility for the investment program is assigned to the Chief Financial Officer who monitors <br /> and reviews investments for consistency with this investment policy. <br /> Delegation of Authority <br /> The Chief Financial Officer, as Treasurer, is responsible for carrying out the policies of the Board. <br /> For the purposes of carrying out this investment policy, the Treasurer and one of the following <br /> individuals are hereby authorized to make investment decisions, in strict accordance with this <br /> investment policy, on behalf of NCTD: <br /> Executive Director <br /> All accounts established for the purpose of investing NCTD funds shall require the approval of <br /> the Board of Directors. <br /> No single individual, acting alone, may initiate an investment activity. <br /> The Executive Director and/or the Treasurer may delegate investment management and decision <br /> authority, via written agreement, to one or more professional investment advisors/managers that <br /> are qualified and registered with the Securities and Exchange Commission under the Investment <br /> Advisers Act of 1940. Agents engaged in this capacity shall make investment decisions and <br /> transactions in strict accordance with state law and this investment policy. <br /> Page 1 of 8 <br />