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SECTION D: FISCAL MANAGEMENT

File DDC

USE OF SURPLUS FUNDS

"A school board may:

  1. invest in securities of a bank, trust company or credit union, or securities issued or guaranteed by the Government of Canada or the Government of Manitoba, that mature within one year, or

    2.  

  2. deposit for investment with the Minister of Finance for a period not exceeding one year: money that is not required for immediate expenditure." [PSA 201(2)]

"In this section, ‘securities’ means bonds, debentures, promissory notes, deposit certificates, treasury bills, trust certificates, guaranteed investment certificates or other documents evidencing debt." [PSA 201 (1)]

 

"Dedicated to the Pursuit of Excellence"