Cash Management Policy Board
About the Board:
The Board establishes policies for the investment of all money belonging to the State or on deposit from its political subdivisions, except money deposited in any state pension fund or the State Deferred Compensation Program. It determines the terms, conditions and other matters relating to those investments including the designation of permissible investments. (Del. Code Title 29 Ch. § 2716 Cash Management Policy Board)
Board Duties
The Board will exercise the judgment and care under the circumstances which persons of prudence, discretion and intelligence exercise in the management of their own affairs with due regard to the probable income and level of risk from investments of money belonging to the State or its political subdivisions in accordance with the policies established by the Board. In carrying out its purpose to determine the terms, conditions and other matters relating to the investment of money belonging to the State or its political subdivisions, unless the Board shall find it not in the State’s best interest, the Board shall:
- Require as a condition to any deposit of such funds in any state or national bank or savings and loan institution that such deposits be continuously and fully secured by direct general obligations of or obligations the payment of the principal and interest on which are unconditionally guaranteed by the United States of America or other suitable obligations as determined by the Board;
- Require that the selection of financial institutions to provide banking and investment services pursuant to this section be conducted on an open and competitive basis as defined by the Board. It shall be the responsibility of the Board to approve the selection of each of the said financial institutions by a majority vote of the members of the Board. The Board, by a majority vote of its members, shall be responsible for setting the policy as to the allocation between short and long term investments and the allocation of funds to the respective financial institutions selected through the open and competitive process; and
- Require that temporary clearing accounts as well as major disbursement accounts be established in a bank or banks whose principal office is located within the State.
Membership:
Board members serve on committees to review specific programs, projects, or issues and make recommendations to the Board. Currently, the Board consists of the Investment and Banking Subcommittees. Each Board member serves on at least one committee. Each committee meets quarterly.
Board Resource Materials:
Resolution No. 2025-1 Further Amending Investment Architecture for the State’s Cash Accounts
Resolution No. 2024-1 Establishing Standing Subcommittee Charters
Resolution No. 2024-2 Adopting Certain Governance Policies
Resolution 2022-1 Amending Investment Architecture
Resolution 2023-1 Further Amending Investment Architecture
Resolution 2023-2 Further Amending Investment Architecture for the State’s Cash Accounts
Cash Management Policy Board Annual Report – Fiscal Year 2024
Cash Management Policy Board Annual Report – Fiscal Year 2023
Cash Management Policy Board Annual Report – Fiscal Year 2022
Cash Management Policy Board Annual Report – Fiscal Year 2021
Cash Management Policy Board Annual Report – Fiscal Year 2020
Cash Management Policy Board Annual Report – Fiscal Year 2019
Cash Management Policy Board Annual Report – Fiscal Year 2018
Cash Management Policy Board Annual Report – Fiscal Year 2017
Cash Management Policy Board Annual Report – Fiscal Year 2016
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Make a FOIA request regarding the Cash Management Policy Board. All FOIA requests for the Board must be directed to the Office of the State Treasurer (OST) via the state FOIA portal. OST Director of Communications Andrew Fiorentino serves as the FOIA Coordinator for the Board.





