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INVESTMENT OF FUNDS POLICY
Adopted 1/15/2020
The Jefferson County Library District Board of Trustees shall implement and maintain sound
financial management of the entrusted resources provided by the taxpayers and other sources of
funding, consistent with the District’s mission.
In accordance with state law, RCW 27.12.070, the Jefferson County Office of the Treasurer serves
as the District’s fiscal agent.
Investment of Funds
The District maintains long-term budget sustainability based on projected expenditure
commitments and compensation practices that are consistent with long-term revenue projections.
The Board shall make all investment decisions. Funds may be held jointly in both liquid accounts
(such as cash or the State Local Government Investment Pool) and investment accounts (such as
Certificates of Deposit or other opportunities made available by the Jefferson County Office of the
Treasurer).
For the purposes of managing the District’s finances, unrestricted funds may be transferred
between accounts by the Board of Trustees at any time.