The day-to-day management of the District’s cash and investment position is the responsibility of the Chief Financial Officer, the Controller and the Treasurer, who have been designated by the Board as the District’s investment officers. Under the guidelines of the Public Funds Investment Act (PFIA) these individuals are responsible for creating and maintaining a portfolio of investments that provide safety from risk, liquidity to support cash requirements, and a yield providing a reasonable rate of return.
The results of the investment activities, which include a variety of cash deposit accounts, investment pools, and agency securities are reported to the Board on a quarterly basis. The Quarterly Investment Report includes graphical and written descriptions of the portfolio balances, yield analysis, maturity schedules, cash flows and account activity for all business areas. An abbreviated version of the Quarterly Investment Report is included in the Dial's section of this portal site.
Routine activities of Treasury Accounting include:
- receipt and depositing of cash and checks,
- printing disbursement checks for accounts payable and transferring the information to the bank,
- monitoring the balances of checking accounts for all the business areas,
- executing electronic payments and transfers between the various bank accounts,
- monitoring investment rates, and
- providing a daily report of the cash activity and status of the accounts.
Non-routine business would require:
- research to settle any payroll related issues with the Internal Revenue Service (IRS),
- preparing an assortment of journal entries to ensure all accounts can be reconciled at month end with bank statements or other external reports for payroll, taxes and debt service related accounts,
- communicating with securities brokers to purchase or sell investment instruments,
- tracking investment opportunities,
- ensuring the investments meet the criteria of the PFIA and HISD’s Cash Management and Investment Policy
- selective bidding for and enforcing the depository contract, and
- preparing debt service information for bond issuance, compliance, repayment and arbitrage.