Committee Composition: The Investment Committee is made up of members appointed by the COLEG's board of directors. These appointees work with the organization`s Treasurer who is also a member of this committee. The Board of Directors have complete discretion over appointments and removals of members of this committee.

Investment Responsibilities & Personal Liability: The Investment Committee is responsible for evaluating and selecting investment alternatives on behalf of the COLEG. Their decisions are final. Members of this committee shall be held blameless for all actions related to these assigned duties and assume no personal liability

Investment Objectives: It is the goal of the Investment Committee to manage COLEG assets in such a way as to achieve long-term monetary benefits that accrue to the organization. However, members of this committee are expected to take prudent risks which are balanced against potential rewards.

Investment Account: The account/s that holds the organization's assets will have multiple authorizations and oversight. To the extent possible, copies of all transactions by any authorized agent should be easily and readily reviewed by the other members of the Investment Committee. Electronic access will be the preferred method.

Reporting: The Investment Committee will report to the Board of Directors of the COLEG as requested. A yearly summary of activities for the calendar year (January 1 through December 31) will be provided. Tentatively, this report will coincide with the April Board of Director's meeting where current year's "scholarship" amounts are determined.

New Investment Criteria: Only investments that provide current earnings can be purchased by the Investment Committee. Should any investment discontinue "earnings", the Investment Committee will sell it as soon as practical, in light of current market conditions, but no later than a year from this determination.

The Investment Committee will not invest in an individual equity issue or a single issuer of other debt instruments. The preferred method for long-term equity or other fixed income investments will be through vehicles such as mutual funds. Whether such funds are open ended or closed shall not matter.

The single issuer criteria above do not apply to financial institution obligations which are federally insured as to the principal amount of the investment. However, if there is a limit as to the principal amount that is insured, the overall portfolio may not exceed it.

Investments Contributed: The Investment Committee may hold securities and other financial instruments that are contributed to the COLEG which do not produce current income and/or represent a single company or issuer. The disposition of such assets rests with the members of this committee and their analysis of the long-term monetary benefit to the organization.

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