Town of Battleford financial policy was on the table at Monday’s regular town council meeting.
Following an audit, it was observed that no formal policy regarding credit card usage by town employees existed. Town administration recommended, following the auditor's letter of recommendation, to approve a municipal credit card policy, which passed with unanimous assent.
Another policy was brought in front of council regarding the Town of Battleford's investments. Unlike the administration credit card policy, which was recommended following observed deficiencies in existing policy in the auditor's report, Finance Officer Steven Permantier said town administration felt it appropriate to also bring forward a formal investment policy.
According to the administrative report presented at council "the policy is to govern the management of the Town of Battleford's surplus funds and investment portfolio striving for the optimum utilization of its cash resources within statutory limitations and the basic need to protect and preserve capital, while maintaining solvency and liquidity to meet ongoing financial requirements."
The report goes on to state that the intent of the proposed policy is to "invest municipal funds in a manner (that would) provide the highest return with the maximum security while meeting the daily cash flow demands of the municipality."
