Resolution of the Board of Directors of the Corporation for Public Broadcasting
September 17, 1996
Recommended CPB Short-term Investment Policy
Unanimously
WHEREAS,
CPB Management has recommended revisions to CPB's short-term investment policy to take into account additional currently available short-term investment instruments; and
WHEREAS,
CPB's funds should be invested in high quality instruments that have a diversification of issuers, and that also provide sufficient liquidity to meet CPB's projected cash needs, and within those constraints, should maximize return.
NOW, THEREFORE, BE IT RESOLVED,
That the CPB Treasurer is authorized to invest CPB's funds in the financial instruments and at the limits listed in Management's memorandum of January 11, 1995.
BE IT FURTHER RESOLVED,
That the authority vested in the CPB Treasurer by this resolution may be delegated to the Director of Budget and Finance, or, in his absence, to the Finance Manager; and that the Treasurer is authorized to open accounts to deposit CPB funds and to close such accounts, in accordance with this investment policy.
BE IT FURTHER RESOLVED,
That the Board will review the Corporation's short-term investment policy on an annual basis.
