R628-2-9. Reporting by Public Education Foundations and Public Treasurers

  Each public education foundation and public treasurer, having funds acquired by gift, devise, or bequest and funds functioning as endowments shall file a written report with the Council on or before July 31 and January 31 of each year containing the following information for investments held on June 30 and December 31 respectively:

  A. total market value of funds held under gifts, devise or bequest and funds functioning as endowments;

  B. amount invested under this rule;

  C. amounts invested under this rule indicating the carrying value and market value of each category of investment; and

  D. a list of all nonqualifying assets held under this rule containing the date acquired, the carrying value and market value of each asset.

  E. The board of trustees or governing body shall review the portfolio at least quarterly, and shall receive the certification from the public treasurer that the portfolio complies with the Money Management Act, Rules of the Money Management Council and the prudent person rule in section 51-7-14 of the Act.