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Short-Term Investments Policy
PURPOSE
To establish the short-term investment approach for United Way of Burlington & Greater Hamilton funds.
POLICY
In order to preserve the capital value of funds and to achieve the maximum return, ensure the purchasing power of the funds is maintained; and to provide appropriate flow of cash to meet United Way’s requirements, the following procedures have been established:
PROCEDURE
To recognize the support of all financial institutions and ensure that the United Way operating funds are receiving the best rate of return and service, a representative sampling of local financial institutions will be considered for investment purposes.
Investments with any single financial institution shall not exceed 35% of all total cash/deposits, except with the prior approval of the Board of Directors. The following financial institutions are currently approved:
- Federally Chartered Banks
- Provincially or Federally Chartered Credit Unions
Investments will be restricted to Canadian securities with minimal risk and having a maturity of less than 180 days, normally of the following investment types:
- GIC’s
- Certificates of Deposit
- Government Bonds
- Treasury Bills
- Bonds of Canadian Corporations rated AA
- Canadian Money Market Funds
- Bankers Acceptance
The Short-Term Investments Policy will be reviewed annually by the Finance and Audit Committee and any amendments presented to the Board of Directors for approval.
For all other information contained in the public portion of our most recent Registered Charity Information Return (from T3010) as submitted to CRA, please click here
Short-Term Investments Policy
PURPOSE
To establish the short-term investment approach for United Way of Burlington & Greater Hamilton funds.
POLICY
In order to preserve the capital value of funds and to achieve the maximum return, ensure the purchasing power of the funds is maintained; and to provide appropriate flow of cash to meet United Way’s requirements, the following procedures have been established:
PROCEDURE
To recognize the support of all financial institutions and ensure that the United Way operating funds are receiving the best rate of return and service, a representative sampling of local financial institutions will be considered for investment purposes.
Investments with any single financial institution shall not exceed 35% of all total cash/deposits, except with the prior approval of the Board of Directors. The following financial institutions are currently approved:
- Federally Chartered Banks
- Provincially or Federally Chartered Credit Unions
Investments will be restricted to Canadian securities with minimal risk and having a maturity of less than 180 days, normally of the following investment types:
- GIC’s
- Certificates of Deposit
- Government Bonds
- Treasury Bills
- Bonds of Canadian Corporations rated AA
- Canadian Money Market Funds
- Bankers Acceptance
The Short-Term Investments Policy will be reviewed annually by the Finance and Audit Committee and any amendments presented to the Board of Directors for approval.
For all other information contained in the public portion of our most recent Registered Charity Information Return (from T3010) as submitted to CRA, please click here