Department of Revenue Investment Group

PURPOSE: This rule establishes the Department of Revenue Investment Group and grants it authority to formulate, subject to the approval of the director of revenue, investment policies and procedures designed to invest nonstate funds in safe, competitive yield investment instruments prior to distribution of the principal and interest to local political subdivisions. (1) The director of revenue creates the Department of Revenue Investment Group. This group shall be composed of employees from the Department of Revenue. (2) All inquiries or notices relating to the Investment Group should be directed to the director of the Fiscal Services Division as follows: Fiscal Services Division Missouri Department of Revenue PO Box 87 301 West High Street Jefferson City, MO 65105-0087 (573) 751-7429 (3) The Investment Group has the responsibility of assisting the director of revenue in formulating and carrying out investment policies and procedures designed to invest nonstate funds in safe, competitive yield investment instruments prior to distribution of the principal and interest to local political subdivisions. Before any of the investment policies and procedures formulated by the Investment Group are implemented, the policies and procedures must be reviewed and approved by the director of revenue. (4) The Investment Group will meet at least quarterly and may meet more often as necessary. (5) The Investment Group shall have the right to request the attendance of additional Department of Revenue employees, investment advisors, banking experts and other finance experts to help the Investment Group formulate and implement the department’s investment policies and procedures. AUTHORITY: section 136.120, RSMo 2000.* Original rule filed May 2, 1986, effective Aug. 11, 1986. Amended: Filed April 21, 1987, effective July 23, 1987. Amended: Filed Sept. 11, 2006, effective April 30, 2007. *Original authority: 136.120, RSMo 1945.