Institutional Investment Policy

Effective Date: January 1, 2025 Board Approval: January 15, 2025

1. Purpose

1.1. This policy implements the State Money Management Act, the Rules of the State Money Management Council, and the Uniform Prudent Management of Institutional Funds Act.

2.1. Utah Code 53B-2-106, Duties and Responsibilities of the President of an Institution of Higher Education
2.2. Utah Code Title 51, Chapter 7, State Money Management Act
2.3. Utah Code Title 51, Chapter 08, Uniform Prudent Management of Institutional Funds Act
2.4. Board Policy, R541, Management and Reporting of Institutional Investments

3.1. “Investments” All Institutional funds are addressed under provisions of the State Money Management Act or the Uniform Prudent Management of Institutional Funds Act.
3.2. “Operational Banking Account” Funds in a commercial bank that are used to pay College operational costs.

4.1. Tooele Technical College shall comply with the State Money Management Act, the Rules of the State Money Management Council, and the Uniform Prudent Management of Institutional Funds Act.
4.2. The Vice President of Finance shall be appointed as the Public Treasurer.
4.3. All investments shall be invested in the Utah Public Treasury Investment Fund (PTIF) or other qualified investments.
- 4.3.1. If investments are made outside of the PTIF, an annual investment review shall be conducted and presented to the College President for supervisory approval of the public treasurer’s investment decisions.
4.4. The Public Treasurer shall manage the daily transactions and transfers between the investment accounts and the operational banking accounts. The President shall review the monthly reconciliations.
4.5. The Public Treasurer shall present monthly investment reports to the President and Board of Trustees during the normally scheduled meetings.