10-11 Release of Investment Policy Guidelines
On 25 May 2009, draft Investment Policy Guidelines were released for consultation. The final Investment Policy Guidelines have now been released after considering feedback from councils.
The Guidelines have been developed to assist councils with the preparation of an investment policy and the prudent and appropriate management of council’s
surplus funds.
As a result of the feedback received, the main changes to the Investment Policy Guidelines include:
- clarification on the role of independent financial advisors
- removal of the term ‘investment strategy’
- guidance to councils following a breach of the council’s investment policy
- a greater emphasis on councils maintaining legal title of their investments.
The Investment Policy Guidelines are available from the ‘Publications’ page of the Division’s website at www.dlg.nsw.gov.au.
Ross Woodward
Chief Executive, Local Government