In addition to any other function, power, or duty imposed by law, the State Board of Finance shall establish, maintain, and enforce all policies and procedures concerning the management and investment of funds in the State Treasury as well as the State Treasury Money Management Trust, including without limitation:

1. (1) Record keeping and reporting requirements that reflect:

   1. (A) Daily, monthly, and year-to-date balances of all funds, accounts, and groups of accounts within the State Treasury; and
   2. (B) The performance of all deposits and investments compared to the target rate of return established by the board;
2. (2) A collateralization policy;
3. (3) Eligibility requirements for a bank depository, an investment depository, a securities broker, and, before accepting an application to hire an investment consultant under Arkansas Code § 19-3-704(c), an investment consultant;
4. (4) An investment policy;
5. (5) Liquidity requirements for the State Treasury; and
6. (6) Qualifications, ethical standards, a conflict of interest policy, and criminal background check requirements that are no less stringent than the requirements of Arkansas Code § 19-3-705 for all employees of the board or Treasurer of State who handle State Treasury funds or participate in decisions concerning the deposit or investment of State Treasury funds.

Codification Notes: This part as promulgated prior to codification into the Code of Arkansas Rules provided as follows: "ARK. CODE ANN. § 19-3-704."