DFA: Revenues from Investments

The Board of School Trustees (the “Board”) authorizes senior management to invest school district funds not in use in securities approved by the Board, provided such investments are in conformance with law and Board policy. 

The Board has authorized the following types of investments: 

• securities guaranteed by the Government of Canada; 
• securities guaranteed by a Provincial Government in Canada;  
• securities guaranteed by the following financial institutions: 
  • Bank of Montreal
  • Bank of Nova Scotia
  • Canadian Imperial Bank of Commerce
  • Royal Bank of Canada
  • Toronto Dominion Bank
  • ABN AMRO Bank of Canada
  • Hong Kong Bank of Canada
  • Credit Suisse of Canada
  • Canada Trust Company
  • Royal Trust Company 

Investments will be made only with financial institutions rated by the Dominion Bond Rating Service as R-1 (high) or R-1 (mid). A register of investment dealers and banks interested in quoting on securities is to be maintained by senior management.

DMT Responsibility: CONT.