School Trustees Adopt Investment Policy
Trustees of the Fullerton School District adopted a new policy this week that outlines how the district’s funds should be invested.
The policy’s goal is to ensure prudent use of taxpayers’ money, district officials said. “It’s really just putting money into the bank, and it’s not truly investing,” Board President Anthony Valla said.
The move comes two years after Orange County declared bankruptcy when its investment pool collapsed, losing $1.64 billion. The Fullerton School District had money in the failed pool.
While most school districts have recovered what they lost, trustees across the county have adopted policies that prevent them from making “risky” investments.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
