The Illinois Compiled Statues required that the Board of Education of all school districts review at least every three months district investments. I have raised a complaint regarding the board’s failure to comply with this requirement a number of times. In order to insure better compliance, I plan on posting this report every three months.
For purpose of comparison, I am posting Boone County’s investment report for the similar period. The County Treasurer provides monthly reports of the county’s investments.
District 100 requests bids only from banks which have a branch office within District 100 and from Illinois School District Liquid Asset Fund(ISDLF). Boone County request bids from banks and insured credit unions within the county and just outside its borders. Deposits from all institutions must either be federally insured or secured by high quality federal or state securities. With the exception of community colleges, the laws regulating the investments of schools and other local governments are nearly identical. District 100 has chosen not to request bids from credit unions and other than ISDLF, financial institutions outside of District 100. Click on the photocopies to enlarge.
District 100 Investment Report for 3-31-2009
Boone County Investment Report for 3-21-2009
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