Financial Investments Policy

POLICY TITLE	FINANCIAL INVESTMENTS POLICY
POLICY NUMBER	POL/CORP227
DATE ADOPTED	MAY 2009
LAST REVIEW	APRIL 2020
NEXT REVIEW	APRIL 2024
OFFICER	Finance Manager
DOWNLOAD	Financial Investments Policy (pdf 156kb)

Purpose

This policy sets out Council’s guidelines for the investment of surplus funds.

Scope

This policy applies to employees authorised to deal with Council investments.

Policy

Council will manage its financial investments in a manner that allows it to meet daily cash flow requirements and maximize its return on investments within an acceptable level of risk. An acceptable level of risk means surplus funds will only be invested in Approved Deposit-taking Institutions (ADIs) approved by the Australian Prudential Regulation Authority (APRA) with a credit rating of at least A- (long term) or BBB for investments less than 90 days as assessed by Standard and Poor’s Financial Services.

Related Policies/Documents

• POL/CORP206 Delegation of Financial Authority Policy
• PRO/CORP227P Financial Investments Procedure

Related Legislation

• Local Government Act 2020 – Section 103

Signed: John McLinden
Date: 5/5/2020