3710.10 INVESTMENTS The chief fiscal officer has the responsibility for investing surplus cash. Funds on deposit may be invested per SUAM Paragraph 3824. If a campus wants to invest funds in the State's Money Investment Fund, a check should be drawn against the general checking account and remitted to the State Treasurer for credit to the State University and College Trust Fund. If funds are invested elsewhere, a check must be drawn against the general checking account to the investing agency. To be eligible to receive and retain demand or time deposits, a bank must deposit with the Treasurer security for such deposits in accordance with Government Code Sections 16521--16533.
(page corrected 16 Apr 2001)