(a) The state-supported institutions of higher education shall have the right to determine the depositories and the nature of investments of any of their cash funds which are not currently needed for operating purposes. In making these determinations, these institutions shall seek to obtain the highest possible rate of return for their investments.
(b) All cash fund agencies other than the state-supported institutions of higher education shall request and abide by the recommendations of the State Board of Finance as to the best investment decisions for any idle cash balances.
Structure Arkansas Code
Chapter 4 - State Accounting and Budgetary Procedures
Subchapter 8 - Expenditure of Cash Funds
§ 19-4-802. Authorization of General Assembly
§ 19-4-805. Investment of fund balances
§ 19-4-806. Petty cash accounts
§ 19-4-813. Erroneous or improper payments
§ 19-4-814. Supporting documentation
§ 19-4-815. Original of supporting documentation to be retained by the agency
§ 19-4-816. Contracts for procurement of commodities and services