Review Agenda Item
Meeting Date: 1/26/2023 - 6:30 PM
Category: Action Items
Type: Action
Subject: 6.2 Adoption of Resolution Authorizing Participation in the Missouri Capital Asset Advantage Treasury (MOCAAT) Program
Strategic Plan 2018-2023:
Policy: DA - Fiscal Responsibility
Provide Name(s) of Attachments
File Attachment:
RFP - Investment of Series 2023 Bond Proceeds.pdf
PHSD MOCAAT Resolution (BOE Jan 26, 2023).pdf
Provide Background Details and Rationale: On December 9, 2022 the Park Hill School District issued a Request for Proposal (RFP) soliciting proposals from financial institutions for the investment of all or a portion of the proceeds of the Series 2023 bond sale scheduled for 10:00 a.m. on January 12, 2023. The financial institution will assist the school district in the investment of bond proceeds in eligible investments to maximize investment earnings. All investments must follow the rules of safety first, liquidity second, and yield third. In addition, all investments must comply with Missouri statutes.

The investment portfolio provided by the financial institution shall remain sufficiently liquid to meet all district operating requirements that may be reasonably anticipated. This is accomplished by structuring the portfolio so that securities mature concurrent with cash needs to meet anticipated demands (liquidity).

Proposals were due at 10:00AM on January 5, 2023. The district received five responsive proposals which were evaluated based on estimated yield and fees, as well as responses to local and state investment requirements and finally, providing services to similar entities.

District staff has identified Missouri Capital Asset Advantage Treasury (MOCAAT) as the proposal best meeting our criteria and recommends MOCAAT as the investment advisor for bond proceeds.

Reviewed by General Counsel.
Provide Funding Source and Estimated Cost: Fees associated with this service will be paid from bond proceeds.
Legal References
Name of Persons(s) Submitting Agenda Item with Title Susan Bartlett, Accounting Coordinator
Dr. Paul Kelly, Assistant Superintendent for Business & Technology
Presenter(s) if Presentation Anticipated
Recommendation: It is recommended that the Park Hill Board of Education adopt Resolution Authorizing Participation in the Missouri Capital Asset Advantage Treasury (MOCAAT) Program, as presented.
Approvals:
Recommended By:
Signed By:
Susan Bartlett - Accounting Coordinator
Signed By:
Dr. Paul Kelly - Assistant Superintendent - Business & Technology
Signed By:
Dr. Mike Kimbrel - Superintendent
Vote Results:

Original Motion
Member Brandy Woodley Moved, Member Kimberlee Ried seconded to approve the Original motion 'It is recommended that the Park Hill Board of Education adopt Resolution Authorizing Participation in the Missouri Capital Asset Advantage Treasury (MOCAAT) Program, as presented.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0.
The motion Carried 7 - 0
   
Janice Bolin     Yes
Bart Klein     Yes
Scott Monsees     Yes
Kimberlee Ried     Yes
Brandy Woodley     Yes
Daryl Terwilleger     Yes
Shereka Barnes     Yes