SHORT-TERM CASH MANAGEMENT POLICIES OF THE



SHORT-TERM CASH MANAGEMENT POLICIES OF THE

NATIVE AMERICAN YOUTH AND FAMILY CENTER

I. Purpose

The purpose of this policy is to document the Board of Directors approved guidelines for banking and daily cash management and short-term investing of the Native American Youth and Family Center funds.

II. Definition of Responsibilities

Board of Directors Approve Investment Policy

Finance Committee Formulate Investment Policy, conduct annual review of policy, and review

investment portfolios quarterly

Operations and Finance Director Implement investment policy, perform

transactions, and report on the status of the portfolio and investment activities

Executive Director Review the investment portfolio , investment activities and

performance of the investment manager

III. Policy

A. Banking and Cash Management

Banking, cash management, and short-term investment activity shall be the responsibility of the Executive Director and/or their designee, and to be implemented according to the following policy guidelines.

B. Banking Arrangements

The Native American Youth and Family Center is authorized to maintain regular commercial (checking) or investment checking accounts.

Primary and/or additional banks shall be established upon future approval by the Native American Youth and Family Center Board of Directors.July 07July 07

Funds required for operational liquidity shall be deposited at a local bank that has been selected through a competitive bidding process. The Native American Youth and Family Center will not select a bank solely on the lowest bid provided, but will also consider the bank’s ability to assist and carry out the Native American Youth and Family Center’s cash management strategy. The banking service agreement entered between a local bank and the Native American Youth and Family Center will be for an initial term of three to five years with a one or two year renewal option.

The Native American Youth and Family Center will use a request for information (RFI) or a request for proposal (RFP) at the end of an existing banking service agreement. Based on the information obtained in response to the RFI or RFP the Native American Youth and Family Center will negotiate with a responding bank to consummate an agreement for banking services.

IV. Banking Activity

A. Receipts of all Native American Youth and Family Center funds shall be deposited directly into accounts established at the primary banks.

B. All primary banks and any money-market accounts utilized by the Native American Youth and Family Center pursuant to Section IV. of this policy are authorized and directed to honor checks, drafts or other orders for the payment of money drawn on these institutions. This includes those payable to the individual order of any person or persons whose names appear thereon as signer or signers thereof, when bearing or purporting to bear the actual or facsimile signatures of the persons holding the following positions: Executive Director, and no less than two of his/her designees. The above depositories shall honor and charge this institution for such checks, drafts, or other orders, regardless of by whom or by what means the actual, purported or facsimile signatures may have been affixed. Such signatures must resemble the actual or duly certified facsimile signatures on file with the above depositories.

C. All primary banks and any money-market accounts utilized by the Native American Youth and Family Center are authorized and directed to honor approved orders for payment through electronic payment methods, which includes, but is not limited to the use of credit cards, ACH (Automated Clearing House) payments, and EFT (Electronic Fund Transfers). The above depositories shall honor and charge the institution for these payment orders.

V. Use of Money Market Accounts

In addition to the use of primary banks as indicated above, a money-market account may be used when conditions make this advantageous in the judgment of the Executive Director or his/her designee. A money-market account, meeting the following qualifications, may be selected by the Executive Director or his/her designee. Total assets of the fund at the time an account is established shall be no less than $50,000.

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