Policies and Procedures

Archived Policy

Investment (archived July 2011)

Category(ies)
Approval(s)
Executive Vice-President Purce: January 15, 1993
Steward(s)
Executive Director of Operational Planning and Budget

(1) Investment objectives. The board of trustees of The Evergreen State College is invested by statute with responsibility for the management of the properties of the college, including its endowment and other college funds. The primary objective governing the investment of college funds is the maximization of financial return based upon a minimum of risk.

(2) Investment policy. It is the policy of The Evergreen State College to participate as investor or as shareholder only in companies or financial institutions which do not conduct business in/with, or maintain direct involvement with nations which, by their laws, violate human rights. By asserting this principle, the board of trustees affirms that human rights shall be a factor in determining the acceptability of an investment.

(3) Responsibility. The board of trustees of The Evergreen State College, under RCW 28B.10.528, delegates to the president or his or her designee, responsibility for investment policy in the name of the board of trustees. The president designates the executive vice-president as the college official responsible for policy formulation and implementation.

(4) Local funds.

(a) Local and college endowment funds will be managed in a manner that provides for a pooling of all investable funds to maximize the rates of return, minimize investment service costs and safeguard the assets of the college, subject to the following limitations: Investments of a minimum amount will be made in minority owned banks if available and the interest rates are competitive.

(b) Investment of all local funds shall be limited to investment instruments that conform to RCW 43.84.080: 39.59.020, 39.59.030 and 35.39.030.

(c) Interest on investments will be distributed proratably each quarter to the various accounts contributing to the pooled investments in the proportions that their average monthly cash balances bear to the average monthly cash balance of the total cash.

(d) Any account operating with a negative cash balance will be charged interest and the interest will be distributed on a prorated basis to the accounts contributing to the pool. Federal, state, and local grants and contracts will be included in the current general local fund for investment management purposes.

(5) Investment reports. The controller will prepare a quarterly report on all investment activity in the college endowment and pooled investment funds. This report will be submitted to the president and executive vice-president.