1. Only low risk investments are to be undertaken.
2. Cashflow of the school is to be such that cash in the official
account is enough to meet commitments.
3. The School Council must approve the investment of funds and
the Principal must authorise the investment.
4. All investment accounts will be included in the CASES financial
system and the procedures for properly maintaining the accounts
will be completed in accordance with DoE policy. In particular,
no direct deposits into investment accounts except for interest
earned on those accounts. All monies will be receipted through
the official account. No direct payments from the investment account
will be made. The monies must first be transferred into the official
account.
5. The Buildings Maintenance Trust and the Library Trust can
be paid directly as they have the approval of the ATO.
6. Investments will be manually recorded in an Investment Register
maintained by the Bursar of the school. This will be replaced
later with an electronically recorded CASES linked program. The
Register will contain:
- Date of lodgement
- Name of institution
- Terms of investment: period, percentage rate and maturity
date
- Amount invested
The School Council can decide to invest in banks, building societies
or credit unions. It can invest in bank accepted or endorsed bills
of exchange or in negotiable, convertible or transferable certificates
of deposit issued by the bank.
