This booklet is intended to provide New York school district officials with a convenient yet comprehensive source of information on the investment of school funds. The booklet contains nine brief sections that focus in turn on school board investment policy, step-by-step investment guidelines, cash flow charts, types of investments, wire transfer of invested funds, arbitrage, definitions of investment terms, and debt service for city school districts. Although some of the recommended practices are designed to meet specific requirements of New York state law, much of the discussion and many of the guidelines will be of value to school officials in other states as well. (JG)