On August 11, 2023, Chancellor Christina Drale approved updates to UA Little Rock policy: Investment Policy for Operating Funds – LR 309.8
Summary of updates:
- Addition of reference to UA Board policy 305.1, Bank Depositories and Fiscal Controls.
- Removal of language granting the VCFA or CFO authority to invest operating funds.
- Addition of section: Standard of Prudence
- Update to the section: Objectives
- Update to the section: Collateralization of Bank Deposits
- Removal of section: Competitive Selection of Certificates of Deposit