Part 1 – GOVERNANCE

 

SECTION: Financial Administration

 

POL 1-021

Investments programs

 

Effective date: July 1, 2009

Approval date: May 3, 2009

Last revised: May 3, 2009

Cancelled date:

Reference:  Bylaw III, Bylaw IV Sec.5(C)

BD 10/1998

Cross reference: POL 1-010

 

POLICY

 

ARMA International will have a clearly articulated investment program that allows the Association to accurately and effectively manage its day-to-day cash needs, meet expenses occurring as a result of unanticipated activities, and provide financial stability and cash flow to support its mission.

 

 

GUIDING PRINCIPLES

 

1.                ARMA has adopted the following statements to provide guidelines for the investment of funds held by the Association:

 

(a)              Operating and short term reserve funds investment policy statement (Exhibit A)

(b)              Long term reserve fund investment policy statement (Exhibit B)

 

2.                Definitions:

 

Operating funds – those funds expected to be spent in the normal course of business during the current twelve-month budget cycle.

Short term reserve fund – those funds held to meet expenses from unanticipated activities required of ARMA International to fulfill its mission. 

Long term reserve fund – those funds in excess of operating funds and short term reserve funds designed to maximize returns without exposure to undue risk and to provide financial stability and cash flow to support the mission of ARMA.  No more than sixty-five percent (65%) of the total reserve funds will be in long term investments.

The investment policy statements will be consistent with the current mission of the Association.

 

3.                A registered investment manager may be retained to manage portions of ARMA International funds.

 

 

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Questions about previous Policies & Procedures? Contact Connie Hardy, Corporate Secretary.