Proposed Council Policy - Investment of Surplus Funds
Following the resolution at the March Ordinary Council meeting, the Draft Investment of Surplus Funds Council Policy is now available for public comment.
The amended policy aims to maintain the City’s current investment stance, while taking into account relevant legislative and social changes. Amendments include:
- A maximum investment period of 36 months, increased from 12 months.
- The City may undertake authorised investment in bonds issued and guaranteed by the Commonwealth Government of Australia.
- Incorporation of the new long-term rating terminology employed by Standards & Poor’s, Fitch and Moody’s as rating agents, as opposed to the short-term rating terminology.
- Environmental investing considerations have been included in the policy. Preference will be made to institutions with a better environmental track-record.
- The minimum $2 million investment to be maintained with Bendigo Bank has been removed from the policy.
Share your thoughts now
- online via Rock Port
- online via email
- mail written comments to: Chief Executive Officer, City of Rockingham PO Box 2142, Rockingham DC 6967
Submissions must be lodged with the Chief Executive Officer by no later than Friday 10 May 2019.
Please note that any written submission received in response to this invitation may be placed on the public record and be available for public inspection.