OLAP:A CASH INVESTMENT PROGRAM FOR OKLAHOMA SCHOOL DISTRICTS

The Oklahoma Public School Investment Interlocal was organized in August of 1996 and formed the Oklahoma Liquid Asset Pool (OLAP) to enable Oklahoma public schools to conveniently and effectively invest their operating, reserve, and bond funds. OLAP’s Sponsoring Associations include the Cooperative Council for Oklahoma School Administration (CCOSA), Oklahoma State School Boards Association (OSSBA), Oklahoma Association of School Business Officials (OKASBO), and Organization of Rural Oklahoma Schools (OROS).

The investment objectives of OLAP, in order of priority, are safety of invested principal, maintenance of adequate liquidity, followed by evaluation of available yield while seeking to maintain a net asset value of $1.00 per share.

The governing Board of Directors of OLAP includes the Executive Directors of the four Sponsoring Associations along with school administrators from across the state. The Board’s responsibility is to develop policies and provide oversight of the investments in OLAP. The Board selects and contracts with multiple professional service providers to manage, administer, market, and custody the funds in the OLAP Program. The service providers are required to report to the Board on a regular basis.

OLAP offers professional investment management through two distinct funds.

1.) The OLAP Daily Investment Pool – Managed by an SEC-Registered Investment Advisor and compliant with Oklahoma State Code, the daily investment pool is a diversified fund that pays a variable rate of interest and allows a participant to invest and withdraw funds on a daily basis, similar to a money market or sweep account.

2.) The Fixed Income Investment Program (FIIP) – The Fixed Income Investment Program allows Participants to individually invest monies in certificates of deposit issued by financial institutions and certain securities issued by the US Government or its agencies and instrumentalities that are allowable under Oklahoma State Code.

There is no minimum balance requirement, no minimum or maximum transaction amounts, and no minimum or maximum number of monthly transaction requirements. Knowledgeable and friendly OLAP representatives are available to assist in the account opening and initial investment process and are available to provide ongoing support as needed.

OLAP’s flexible features allow any size school district to invest. Whether you are a K-8, CLASS A or 6A school district, OLAP has features to accommodate your district in the investment process.

• Professional Administrators that you can talk to directly at 1-866-472-6527

• Full online, real-time access to your accounts

• Multiple transactions and reporting options

• Direct Wire of State Aid, Federal Aid or Bond Funds

• No Minimum or Maximum Balances

• Flexibility to establish multiple sub-accounts

• Separate accounting for sub-accounts (i.e. General, Bond, Activity, Nutrition)

HOW DOES MY SCHOOL DISTRICT JOIN OLAP? 3 EASY STEPS

1. Board of Education must pass a resolution approving participation in OLAP.

2. Complete and submit all account application forms.

3. Invest.

OLAP provides an investment option for your district’s funds; it will not take the place of your bank checking account. Just as districts are able to maintain multiple banking relationships if they choose, they are also able to maintain multiple options to invest cash from operating funds, reserves, and bond funds. If your district is not currently utilizing OLAP, we suggest you review the Program by visiting the website at olaponline.org to obtain further information and current rates or contact an OLAP representative via phone at 1-866-472-6527.