FILE: DG

DEPOSITORY OF FUNDS

The Board shall designate the depository for school funds.  The Board may authorize other depositories from time to time for special purposes.  Said banks shall be approved as a qualified public depository by the Security for Alabama Funds Enhancement Act (SAFE Program) administered by the Alabama State Treasurer.

 Investments shall be limited to federal agency backed securities.

ADOPTED:     August 13, 2002

 REVISED:     January 9, 2007

 LEGAL REF:  Code of Alabama  16-11-9; 41-14A-1, et seq.