At the November 27 board meeting, qathet Regional District (qRD) directors voted to endorse an investment policy, because, according to a staff report, all local governments should have an investment policy that clearly identifies the primary objectives of the local government’s investment program. These objectives, according to the report, include diversification, liquidity, return and preservation of capital.
Because local governments are investing public money, preservation of capital should be the foremost object of any policy, according to the report. Investments should be chosen in a manner that seeks to ensure preservation of capital by minimizing credit and interest rate risk, the report stated.
As of December 31, 2023, qRD had $6,814,137 in statutory reserves and $8,278,408 in non-statutory reserves. qathet Regional Hospital District had $4,318,538 in one reserve category and $2,262,577 in maintenance reserve. The combined total of reserves was $21,673,660.
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