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Short Term Investment Policy

Ref. No.	Executive sponsor	Policy steward	Approval authority	First approved	Last reviewed	Effective date	Next review
62.41	Vice President, College Services and Strategy	Chief Financial Officer	Board of Governors	Pre-2018	Dec. 2018	Jul. 2024	Jan. 2029

Purpose
1. Nova Scotia Community College’s core funding is provided from Government and students. The timing of payments allows the College to invest surplus funds in short-term investment instruments.
2. The purpose of this policy is to establish guidelines that facilitate the effective management and investment of surplus funds that focuses on protecting funds while optimizing investment earnings.

Scope
1. This policy applies to the short-term investment of Nova Scotia Community College’s surplus operational funds.

Definitions

None.

Policy
1. Overall Investment Objectives
  1. The overall investment objective is to maximize earnings on operational funds by seeking the highest return on conservative fixed-rate investments. Liquidity must be maintained for operational funds, and the principal value of the investment cannot be compromised.
2. Investment Mix
  1. Surplus funds can be invested in any of the following instruments for up to one year, with the approval of the Vice President, College Services and Strategy, and the Chief Operating Officer:
    1. Provincial Notes
    2. Term Deposits
    3. Guaranteed Investment Certificates
    4. Treasury Bills
    5. Interest Bearing Business Operating Account/High Interest Savings Account
3. Surplus Funds Held on Deposit
  1. The overall investment objective is to maximize earnings on operational funds by seeking the highest return on conservative fixed-rate investments. Liquidity must be maintained for operational funds, and the principal value of the investment cannot be compromised.

Policy Supports

None.

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