Resolution of the Board of Directors of the Corporation for Public Broadcasting
July 18, 1989
Short-term Investment Management Services
Unanimously
WHEREAS,
the Board requested that Management analyze CPB's current short-term investment management services to determine if CPB was getting the best return and best services available, given CPB's investment policies; and
WHEREAS,
after having reviewed the current investment services, issuing a request for competitive proposals to provide these services and analyzing the responses, Management has reported to the CPB Board Audit Committee that it sees no reason to change its policies or the institution currently handling CPB's investment services.
NOW, THEREFORE, BE IT RESOLVED THAT:
the Board endorses Management's conclusion to retain the Bank of America as the institution providing short-term investment management services. The Board encourages Management to periodically review the provision of these investment services to assure itself that CPB is receiving the best return and services possible consistent with its investment policies and report its finding to the Board.