The Board’s purposes shall be to establish 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, and to determine 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 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.
In carrying out its purpose to designate permissible investments, the Board shall exercise the judgment and care under the circumstances then prevailing 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: