 Niagara Catholic District School Board
FINANCIAL INVESTMENT
ADMINISTRATIVE OPERATIONAL PROCEDURES
|
600 – Business Services
| No: 600.7
|
| | |
Adopted Date: May 28, 2019
| Latest Reviewed/Revised Date: May 21, 2024
|
In keeping with the Mission, Vision and Values of the Niagara Catholic District School Board, the following are Administrative Operational Procedures for Financial Investment.
PREAMBLE
The Board is responsible for ensuring financial stewardship and integrity through an effectual investment strategy when investing public funds.
In accordance with legislation, the Board may invest its surplus funds in securities prescribed under the
Education Act
, O. Reg. 41/10 – Part IV Eligible Investments. The Board will endeavour to achieve a positive rate of return to minimize the risk associated with investments by ensuring that the Board is compliant with the
Education Act,
while maintaining sufficient liquidity.
DEFINITIONS
Surplus Cash Balances – this is the amount of funds held within centrally managed accounts and does not apply to fund balances held by schools.
Eligible Investments
S
ection 241 of the Education Act states that:
1.
The Board does not have the power to invest in a security other than a security prescribed under O. Reg. 41/10, s. 8.
2.
The Board shall not invest in a security that is expressed or payable in any currency other than Canadian dollars. O. Reg. 41/10, s. 11 (1).
All investment activity requires authorization by the Director of Education and Superintendent of Business and Financial Services with an annual report to the Board.
Management Methodology
The investment objectives of the Board shall, in order of priority, be as follows:
1.
Adherence to statutory requirements by the
Education Act
2.
Preservation of capital
3.
Maintenance of liquidity
4.
Competitive rate of return on investments commensurate with constraints in (1).
References
Adopted Date:
Revision History:
| May 17, 2024
May 28, 2019
May 21, 2024
|
·
Education Act, Ontario Regulation 41/10
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Financial Investment (600.7) Administrative Operational Procedures
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