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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
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policy-newPurpose

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

For information on current legislation visit:

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