Member Joe DeCuir gave the invocation and led the pledges to the flags. The advisor acts as an intermediary to select the best investments for the client. Ms. Patterson stressed the primary benefits are safety, time savings, reporting and communication. The advisor would reduce risk by interfacing with the financial markets using full knowledge of the securities, their risks and markets. The advisor would work daily with district staff to educate and inform them about the market and the district portfolio.
Money management is provided on either a discretionary or non-discretionary basis.
A discretionary manager would use established guidelines to actually direct all trades. A non-discretionary manager would present market ideas and trade suggestions to the district staff, who would then execute the transaction or give the advisor permission to execute the transaction. Standardized Dress Survey Superintendent David Simmons presented the results of the standardized dress survey sent to parents. No action was taken by the Board, as this report was not an agenda item. Very little savings will be realized by the change, but the district will be able to receive the service for one year without a contract.