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6.2.9 Investment Policy

REPORT BY THE FINANCIAL ACCOUNTANT TO 5 NOVEMBER 2014 COUNCIL MEETING

Investment Policy Review

GOV400038, A0140201

RECOMMENDATION

That:

1. the report by the Financial Accountant on the Investment Policy be received;

2. Council adopt the revised Investment Policy.

Executive summary

Revisions have been made to the Investment Policy as part of the review process.

Detailed report

The revised Investment Policy has amended the performance benchmark to a 90 and 180 day average term deposit index rather than the 90 Bank Bill Swap Rate. These benchmarks compare the performance of the same type and term of investment as is contained in Council’s portfolio, thereby providing a superior comparison.

Minor changes were also made to reflect the change in organisational structure, along with some formatting updates.

All changes are shown as track changes on the policy attached.

Financial and Operational Plan implications

Nil.

Community Plan implications

Nil.

NEIL BUNGATE FINANCIAL ACCOUNTANT

LEONIE JOHNSON ACTING DIRECTOR, CORPORATE

24 October 2014

Attachments: 1. Investment Policy (with tracked changes)

APPROVED FOR SUBMISSION:

BRAD CAM GENERAL MANAGER

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ATTACHMENT 1

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