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Parishes need to be concerned about the amount of money that they have on deposit with their financial institutions within their various accounts and investments. There are limits as to the amount that is protected by the federal government.
Understanding FDIC Deposit Insurance – This link provides helpful information as to the FDIC, what types of investments are covered, frequently asked questions, etc. https://www.fdic.gov/deposit/deposits/.
FDIC Insurance Limits – This link provides information about the protection limits and how deposit amounts are insured by the FDIC. https://www.fdic.gov/deposit/covered/categories.html.
Understanding SIPC Deposit Insurance and Limits - This link provides helpful information as to the SIPC, what types of investments are covered, and the protection limits. http://www.sipc.org/for-investors/what-sipc-protects.