§ 54-11-18 — Cash management board - Report (Expired effective July 1, 2028)

North Dakota § 54-11-18

• Jurisdiction: North Dakota
• Title 54: State Government
• Ch. 54-11: State Treasurer

Text

1. The cash management board is created to:
a. Review existing policies and, if necessary, develop policies in coordination with
the state treasurer and the Bank of North Dakota for the management of moneys
in the state treasury.
b. Provide transparency regarding the state's consolidated financial position.
c. Identify state agency and interagency cash flow characteristics and processes.
d. Review state agency cash management technology and opportunities to improve
state cash management practices.
e. Review state agency and statewide operational cash flow requirements and
forecast cash flow needs.
f. Identify cash management practices to improve cash structures and to provide
transaction efficiencies.
2. The board shall review existing policies and, if necessary, develop policies with a goal
of managing moneys in the state treasury to ensure principal preservation and
adequate liquidity for the state's cash flow needs while maximizing total return based
on an appropriate level of statewide risk. The policies may include:
a. An appropriate tiered cash flow structure.
b. Authorization to commingle, for management purposes, moneys in the state
treasury when determined to be advantageous.
c. Prioritization to optimize cash flow structuring to align with the mission of state
agencies and the state's consolidated financial position.
3. The Bank of North Dakota shall provide staff services to the board.
4. Upon request, a state agency shall provide information to the board regarding cash
flow and liquidity needs, including projections for the timing of revenues and
expenditures.
5. The board consists of:
a. The governor or the governor's designee who shall serve as the chairman;
b. The director of the office of management and budget or the director's designee;
c. The president of the Bank of North Dakota or the president's designee;
d. Two members of the house of representatives appointed by the house majority
leader;
e. Two members of the senate appointed by the senate majority leader; and
f. The state treasurer or the state treasurer's designee.
6. Legislative members of the board are entitled to receive compensation and expense
reimbursement as provided under section 54-03-20 and reimbursement for mileage as
provided by law for state officers. The legislative council shall pay the compensation
and expense reimbursement for the legislative members.
7. The board shall provide at least one report each fiscal year to the budget section.