Policy No.: MDTA 7010
Original Date: August 16, 2005 Revised: August 29, 2024
Effective Date: August 16, 2005
Approved by: ________________________________________
Date: ______________
Approval Signature
Approved by: ________________________________________
Date: ______________
Form and Legal Sufficiency Review, Office of Attorney General
Investment Management
Purpose The purpose of this Policy is to establish guidelines for the safeguarding and efficient management of the Maryland Transportation Authority’s (MDTA) cash and investments. This policy applies to all accounts, including those established under the Trust Agreement. Reference(s) Title 4 of the Transportation Article, Annotated Code of Maryland (as amended) Title 6 of the State Finance and Procurement Article, Annotated Code of Maryland (as amended) Second Amended and Restated Trust Agreement between the Maryland Transportation Authority and the Bank of New York Mellon (dated as of September 1, 2007, as amended), Section 5.02 Investment of Monies, and applicable provisions of any governing trust agreements (Trust Agreements). Governmental Accounting Standards Board (GASB) Internal Revenue Code of 1986, Arbitrage Rebate Regulations (as amended) Uniform Commercial Code MDTA Board Resolution 2011-02 (Authorized Staff)
Scope: This Policy is applicable to MDTA Finance Staff.
Responsible Party: The Chief Financial Officer (CFO) and Finance Division staff, including the Director of Treasury and Debt, are charged with ensuring compliance and conducting periodic reviews and revisions to this policy.
Investment Management I. Prudence
a. Policy Statement 1. All investment balances shall be invested with prudence considering the probable safety of the capital as well as the probable income derived.
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