Appendix I
Non-Tax Revenue Plan
Appendix A
Financial Policy Investment Policy Policy FN14
short term discount obligations of the Federal National Mortgage Association or in shares of other forms of securities legally issued by savings banks or dividend-bearing share accounts, share certificates accounts or class of share accounts of a credit union chartered under the laws of this State or the laws of the United States; provided the principal office must be located in the State of Illinois or agencies of the United State of America including: federal land banks, federal intermediate credit banks, banks for cooperative, federal farm credit banks, or any other entity authorized to issue debt obligations under the Farm Credit Act of 1971 or federal home loan banks and the federal home loan mortgage corporation; and any other agency created by Act of Congress or a Public Treasurers’ Investment Pool created under Section 17 of the State Treasurer Act The Park District shall require that funds on deposit in excess of insured limits be secured by collateral. The District will accept any of the following assets as collateral: U.S. Government Securities. Obligations of Federal Agencies. Obligations of the State of Illinois. General Obligation municipal bonds rated “A” or better issued by a governing body in the State of Illinois. The amount of collateral provided shall not be less than 110 percent of the fair market value of the net amount of District funds on deposit at each financial institution. Pledged collateral shall be held by the Naperville Park District, or kept in a safekeeping account by a third party and evidenced by a custodial agreement and safekeeping receipt. Investment Parameters 1. Investment Quality Fixed income securities that are not direct obligations of the U.S. Government or FDIC insured must be rated as minimum investment grade or higher at the time of purchase. For example, minimum investment grade as defined by Standard & Poor’s and Moody’s is BBB and Baa respectively. 2. Diversification The investments will be diversified by security type and institution. 3. Selection of Investment Instruments This policy prohibits the investment in derivatives. 2. Collateral
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Naperville Park District | 2023 MASTER PLAN
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