Bob Atkinson, Treasurer
W & A Manufacturing
Layton Jensen, 2013
John Crabtree, 2015
Goals & Objectives
The Investment Committee shall be appointed by the President for a three-year term or reappointed for a one-year term. Terms shall be alternated so that approximately one-third of the committee shall be newly appointed each year. The committee shall consist of three members, the Chairman of which shall be the Treasurer. In addition, the President shall serve ex officio as a non-voting member.
The guidelines and objectives are:
The preservation of capital, liquidity and to optimize the investment return within the constraints of the policy approved by the Association's Board of Directors.
The funds of the Association shall be invested in cash, fixed income investments, and equity mutual funds:
Cash – The amount of funds invested in cash shall at all times be sufficient to provide for timely payment of the Association's obligations. These funds shall be deposited in financial institutions whose deposits are insured by an agency of the U.S. Federal Government. The use of an overnight sweep account, purchasing U.S. Treasury and Federal Agency obligations shall be an acceptable non-insured investment.
Fixed Income – Board of Directors approved investments include U.S. Treasury obligations, Federal Agency obligations and Certificates of Deposit which are backed by the full faith and credit of the U.S. Government. It shall be the goal of the Investment Committee to “ladder” these investment for a period not less than seven or more than ten years. Based on anticipated needs and or market conditions, the Board of Directors may instruct the Investment Committee to invest in funds shorter than seven and and longer ten years.
Equity Mutual Funds – Investment of up to ten percent of the Association's funds will be divided into a maximum of three separate equity mutual funds. If the value of the mutual funds exceeds the ten percent limit, no additional general funds are to be invested. This limit shall not require the sale of equity funds, for the sole purpose of not exceeding the 10 percent limit.
Income received from equity mutual funds will be reinvested by the Executive Vice President and Treasurer jointly.
Funds shall be allocated:
Cash – As required for operations
Equities – Approximately 10% of total funds
Fixed Income – Amount not included in cash and equities
A report of the investments shall be given annually during the Fall Convention Board Meeting.
Approved by Board of Directors on November 3, 2010