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The rate of return for the State Investment Pool (LAIF) is now higher than the rate of <br />return for Ventura County Investment Pool. Thus, the District funds are being moved <br />there. Funds in the District's checking account earn interest through an agreement with <br />the District's bank. These earnings are applied to the fees the bank charges the District <br />for its services. <br />The District investment policy provides for investing in other than the State and County <br />pools, however, without a more technically trained staff whose sole responsibility is to <br />make and track investment recommendations, we recommend the District rely on the <br />financial expertise of the full-time experts managing the State and County pools. <br />Reinvest2-06 <br />2 <br />