2015-06-29 Special Meeting Agenda

ATTACHMENT 3


                                                                                 Council Policy
                                                                         INVESTMENT OF
                                                                         COUNCIL FUNDS

    Corporate Plan Reference:                   A sustainable Council

    Endorsed by Council:

    Policy Author:                              Director Corporate Services



POLICY BACKGROUND

The intent of this document is to outline Council’s policy and guidelines regarding the investment of
surplus funds, with the objective to maximise earnings within approved risk guidelines and to ensure
the security of funds.

The activities of the investment officers or fund managers responsible for stewardship of Council’s
funds will be measured against the standards in this policy and its objectives. Activities that defy the
spirit and intent of this policy will be deemed contrary to the policy.

For the purpose of this policy, investments are defined as arrangements that are undertaken or
acquired for producing income and apply only to the cash investments of Council. This policy applies
to the investment of all surplus funds held.

For the purposes of the appointment of an external fund manager pursuant to Section 59 of the Local
Government Act 2009, to operate in a manner consistent with this policy will constitute compliance.

COUNCIL POLICY

Council has been granted authority to exercise Category 1 investment power under Part 6 of the
Statutory Bodies Financial Arrangement Act 1982 (the Act) without further approval.

The Treasurer may from time to time constrain the investing activities of local government by
limitation, caveat, restriction and/or other relevant regulation. Where this occurs, this policy will be
reviewed and reissued for the subsequent change in legislation.

Authority

All investments are to be made in accordance with:
    Statutory Bodies Financial Arrangements Act 1982;
    Statutory Bodies Financial Arrangements Regulation 2007; and
    Local Government Act 2009.




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