2015-06-29 Special Meeting Agenda

INVESTMENT OF COUNCIL FUNDS POLICY


Investments are defined as arrangements that are undertaken or acquired for producing income
and apply only to the cash investments of Noosa Shire Council.

Market Value of the portfolio is the book value of fixed term fixed interest deposits plus a market
value assessment of commercial paper, bank bills, and bonds or floating rate notes.

QTC – Queensland Treasury Corporation.


ROLES AND RESPONSIBILITIES

Authorised personnel

The Director Corporate Services and the Manager Financial Services are authorised to invest
Council’s operating funds at their discretion in investments consistent with this policy and legislation.

The Manager Financial Services will report to Council for investment guidelines and oversight of
investment activities for the purposes of this Investment Policy.

Internal controls

The Manager Financial Services in consultation with the Director Corporate Services shall establish
internal controls and processes that will ensure investment objectives are met and that the
investment portfolios are protected from loss, theft or inappropriate use.

The established processes will include monthly and quarterly reporting, as well as an annual review
of this policy. The internal controls will address the following:
    Control of collusion;
    Accounting and record keeping;
    Evidence of quotes for each investment transaction;
    Delegated authority to investment officers;
    Compliance and oversight of investment parameters; and
    Reporting guidelines.

The internal controls will be subject to periodic reviews by Council’s Internal Audit function to verify
compliance with the policy and legislation.


RELEVANT LEGISLATION

Statutory Bodies Financial Arrangements Act 1982
Statutory Bodies Financial Arrangements Regulation 2007
Local Government Act 2009
Banking Act 1959 (Cwlth)



Version control:
    Version        Reason/ Trigger                      Change (Y/N)   Endorsed/ Reviewed by   Date

    1.0            Create new on de-amalgamation from   Y              Wayne Jensen            22/12/2013
                   Sunshine Coast Regional Council
    2.0            Annual Review                        Y              Wayne Jensen            02/06/2014
    3.0            Annual Review                        Y              Wayne Jensen            04/06/2015




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