For the 16th time, Virginia Beach City Public Schools (VBCPS) has been honored with the Best Communities for Music Education designation from The National Association of Music Merchants (NAMM) Foundation. Now in its 26th year, the Best Communities for Music Education designation is awarded to districts that demonstrate outstanding achievement for providing music access and education to all students.
Investments 3-26
School Board of the City of Virginia Beach
Policy 3-26
BUSINESS AND NONINSTRUCTIONAL OPERATIONS
Investments
The School Board shall see that funds not immediately needed are invested in a manner consistent with fiduciary responsibility as mandated in the legal reference to this Policy. Individual schools may invest school activity funds not immediately needed in certificates of deposit in a manner consistent with the fiduciary responsibility. Proceeds from these investments shall accrue to the school fund from which they originated.
Legal Reference
Code of Virginia § 2.2-4505, as amended. Investment in certificates representing ownership of treasury bond principal at maturity or its coupons for accrued periods.
Code of Virginia § 2.2-4507, as amended. Investment of funds in overnight, term and open repurchase agreements.
Adopted by School Board: February 16, 1993
Amended by School Board: October 19, 1993
Amended by School Board: January 14, 2020