Investment Strategy Policy
The Government advice to Council’s for investment is based on:
Security – Liquidity - yield (in that order)
1. This Council has four bank accounts:
- Barclays current account
- Barclays general reserves
- Barclays cemetery account
- CCLA deposit account
2. Day to day payments are processed through the current account and topped up from the general reserves.
3. The long term earmarked reserves will be held in the CCLA deposit account.
4. The Clerk will make movements between the accounts as necessary to ensure no bank charges are incurred
5. The amount held in the Barclays accounts must not exceed £85,000
6. There must always be enough funds in the general reserves account for any large immediate payments
The Council will ensure that adequate secure liquidity is maintained by use of the current and deposit accounts to deal with in-year expenditure and contingency.
Reserve funds that are unlikely to be required in the short term will be deposited in the CCLA account.
Regular financial reports will be made to the Council and this Strategy will be reviewed annually