Section 14 - Investments

Section 14.1 - Investment Function

Date: 10/2/06 — Approved: Finance Board

Investment operations are those business processes concerned with the commitment of AS assets to earn revenue and the control and safeguard of these earning assets. The AS Council and its delegates intend to invest all available AS funds in one of the AS investment programs. The objective and time horizon of a fund will generally determine the appropriate investment program. The AS attempts to pool assets wherever possible in order to generate efficient administration and investment flexibility.

INVESTMENT FUNCTION

The investment function is centralized in the Business Office – Accounting Department.

Authority

The AS Council develops basic AS policy on investments and delegates the execution of those policies to its administrative agents, who act under the Council's general supervision. The Controller has been delegated transaction authority to assist the AS Finance Board in investments.

Operations

The AS Finance Board meets regularly to review policy compliance and other policy questions.

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