3290 Depositories and Securities

  • I. Deposits

    1. Every year each bank wishing to be a designated depository for Campbell County School District must submit file an "Application for Deposit of Public Funds, " either hand delivered or post marked by the first Monday in December, to the office of the Associate Superintendent for Instructional Support. Under limited circumstances, the Board of Trustees may approve additional banks to the depository list during of the year.

    2. After receiving Board of Trustee approval, each officially designated bank depository must file with the board treasurer through the Associate Superintendent for Instructional Support office a resolution in accordance with Wyoming State Statute Section 9-4-806 and an annual financial condition report which may be a copy of the published statement of condition.

    II. Securities

    1. Acceptable securities for Campbell County School District deposits include United States treasury bills, notes or bonds, or any other obligation or security issued by the United States treasury or any other obligation guaranteed as to principal and interest by the United States; or bonds, notes, debentures, or any other obligations or securities issued by or guaranteed by any federal government agency or instrumentality, including but not limited to the following to the extent that they remain federal government agencies or instrumentalities, federal national mortgage association, federal home loan bank, federal farm credit bank, federal home loan mortgage corporation and government national mortgage association. All federal agency securities shall be direct issuances of federal agencies or instrumentalities.

    2. All acceptable securities pledged must have a fair market value equal to or exceeding 105% of total deposits, including any accrued interest, being held by the bank or savings and loan institution, unless an exception is specifically granted by the Board of Trustees or an authorized representative of the Board.

    3. All securities, safekeeping receipts and joint custody receipts must be issued to and in the name of Campbell County School District and meet State of Wyoming and district requirements.

    4. The description of the pledged security, safekeeping receipt or joint custody receipt must be clearly identified on the security or receipt (FHLB note, FHLB bond, FHLB pool, etc.)

    5. Each month designated bank depositories must submit security pledged reports to the Associate Superintendent for Instructional Support office by the tenth working day of the following month. Security pledged reports must include the following information:

    a. All school district accounts including name, account number and month-end balance;

    b. All school district investments by due date, amount and interest rate; and

    c. A list of securities, safekeeping receipts and joint custody receipts pledged by the bank or savings and loan institution to cover the School District's funds, including security type, due date, interest rate, par value and fair market value of each pledged security.

    ADOPTION DATE: February 22, 1972; Editorial Revision August 14, 1984; Revised March 14, 1989; February 28, 1990; Editorial Revision January 22, 1996; Revised April 14, 1997; Editorial revisions May 23, 2005; Reviewed with minor revision September 23, 2014

    LEGAL REFERENCE(S): W.S. 9-4-801 through 9-4-831

    CROSS REFERENCE(S): 3280, 3280-R, 8400