Investment Income

The School Board authorizes the Superintendent or Treasurer to make financially responsible investments of available monies from the funds of the Corporation. The primary objectives, in priority order, of the investment activities shall be safety, liquidity, and return.  

Consistent with Indiana Code 5-13-9, investments permitted by this Policy include:  

(1) Securities backed by the full faith and credit of the United States Treasury or fully guaranteed by the United States and issued by any of the following: 

1. A federal agency
2. A federal instrumentality  
3. A federal government sponsored enterprise  

(2) Securities fully guaranteed and issued by any of the following: 

1. A federal agency
2. A federal instrumentality
3. A federal government sponsored enterprise 

(3) Municipal securities issued by an Indiana local governmental entity, a quasi-governmental  entity related to the state, or a unit of government, municipal corporation, or special taxing district in Indiana, if the issuer has not defaulted on any of the issuer’s obligations within the twenty (20) years preceding the date of the purchase in accordance with I.C. 5-13-9-2.  

(4) Money market mutual funds rated AAAm, or its equivalent, by Standard and Poor’s Corporation or Aaa, or its equivalent, by Moody’s Investors Service, Inc. in accordance with I.C. 5-13-9-2.5.  

(5) Repurchase agreements in accordance with I.C. 5-13-9-3.  

(6) Transaction accounts, certificates of deposit, and deposit accounts issued or offered by a designated depository of the District’s political subdivision. The Investment Officer  making a deposit in a certificate of deposit shall obtain quotes from each designated depository in accordance with I.C. 5-13-9-4.  

(7) Certificates of deposit authorized by a resolution of the District in accordance with I.C. 5- 13-9-5 and 5-13-9-5.3.  

(8) Local government investment pools in accordance with I.C. 5-13-9-11. 

In accordance with Indiana law, the Board authorizes investments having a stated final maturity that is more than two (2) years but not more than five (5) years after the date of purchase.  

Consistent with Indiana Code 36-1-7, the District may pass a resolution to enter into interlocal  cooperation agreements for the joint exercise of powers, including the investment of public funds.  

I.C. 5-13-9 – Deposit and investment of public funds 

I.C. 5-13-9-5(a) – Authorization to invest in certificates of deposit 

I.C. 20-26-5-4 – Specific powers 

I.C. 36-1-2-10 – "Municipal corporation" defined to include "school corporation"

I.C. 36-1-2-13 – "Political subdivision" defined to include "municipal corporation"

I.C. 36-1-7 – Interlocal Cooperation  

State Board of Accounts: School Uniform Compliance Guidelines Manual Chapter 1

West Lafayette Community School Corporation 

Adopted: January 12, 2026 

Revised: [date]