Local Government (Financial Management) Regulation 1999
16 Reports on council investments
(1) The responsible accounting officer of a council:
(a) must provide the council with a written report (setting out
details of all money that the council has invested under section 625 of the
Act) to be presented:
(i) if only one ordinary meeting of the council is held in a month, at
that meeting, or
(ii) if more than one such meeting is held in a month, at whichever of
those meetings the council by resolution determines,
(b) must include in the report a certificate as to whether or not the
investment has been made in accordance with the Act, the regulations and the
council’s investment policies.
(2) The report must be made up to the last day of the month
immediately preceding the meeting.
Note. Section 625 of the Act says how a council may invest its surplus