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Treasury Management and Investments Policy

1. INTRODUCTION
1.1 This document sets out the parameters and operational issues for investing surplus funds of
the Council.
1.2 For the purpose of this policy, the Responsible Financial Officer (RFO), is the
Town Clerk to the Council.

2. INVESTMENTS
2.1 Surplus funds shall be invested in short-term cash deposits only, i.e. from 1 to 364 days.
2.2.1 Short-term instruments shall be time deposits only with the banks and building societies and
up to the following limits for any one deposit taker: –

Name of Bank/Building Society

Lloyds TSB

(Scottish Widows – part of Lloyds TSB)

Royal Bank of Scotland

HSBC

Barclays

Abbey (Santander)

Nationwide

Portman

CCLA Public Sector Deposit Fund

Maximum Total To Be Placed on Deposit £

500,000

500,000

500,000

500,000

500,000

500,000

500,000

500,000

2.3 In addition, transfers between the Council’s current and deposit accounts shall be permitted
up to a maximum of £30,000 per day, to maximise interest earnings on surplus funds that
cannot be placed in time deposits (usually for a minimum of one month).


3. OFFICERS AUTHORISED TO MAKE TIME DEPOSITS/TRANSFERS
3.1 All transactions shall be carried out under the direction of and authorised by the RFO.
MARLOWTOWNCOUNCIL
3.2 Time deposits shall be negotiated and placed on a day-to-day basis by either the Town Clerk
(Responsible Finance Officer) or the Deputy Town Clerk (Finance Officer).
3.3 Transfers between the Council’s bank accounts shall be carried out by either the Town Clerk,
or the Deputy Town Clerk together with the Town Mayor as an additional account operator.


4. REPORTING ARRANGMENTS
4.1 The RFO shall report all transactions and the effects on interest earnings, compared with the
agreed budget, at the Resources Committee meeting following the end of each quarter
ending i.e. 30 June, 30 September, 31 December, 31 March.