2016-06-29 Special Meeting Agenda

                                                                               Council Policy
                                                               INVESTMENT POLICY
 Corporate Plan Reference:                    A sustainable Council

 Endorsed by Council:                         <Insert Date of Council Meeting >

 Policy Author:                               Director Corporate Services

POLICY BACKGROUND

The intent of this document is to outline Noosa Shire Council’s investment 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 Noosa Shire
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 Noosa Shire Council. This
policy applies to the investment of all surplus funds held by Noosa Shire Council.

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

COUNCIL POLICY
Noosa Shire Council (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 Investment
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
 Local Government Act 2009


ETHICS AND CONFLICTS OF INTEREST
Prudent Person Standard
The standard of prudence is to be used by investment officers when managing the overall portfolio.
Investments will be managed with the care, diligence and skill that a prudent person would exercise
in managing the affairs of other persons. This includes having in place appropriate reporting
requirements that ensure the investments are being reviewed and overseen regularly.

Investment officers are to manage the investment portfolios not for speculation, but for investment
and in accordance with the spirit of this Investment Policy. Investment officers are to avoid any
transaction that might harm confidence in Council. They will consider the safety of capital and income
objectives when making an investment decision.
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