- Associated Press - Thursday, October 2, 2014

DOVER, Del. (AP) - The panel that oversees Delaware’s $1.8 billion cash portfolio is proposing to formally adopt rules regarding objectives and guidelines for investing state funds.

The Cash Management Policy Board is accepting public comment until Oct. 31 on the proposed regulations.

The board currently operates under regulations established in 1982 but never formally adopted in accordance with the Administrative Procedures Act, which governs how certain state agencies exercise their powers and how their actions are subject to public comment.

State lawmakers earlier this year stripped the board of its APA exemption after intervening in a power struggle between elected state treasurer Chip Flowers and other board members, most of whom are cabinet officials or gubernatorial appointees.

Flowers, who sought greater public scrutiny of the board, dropped his re-election bid in August.


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