Approved: November 15, 2005
Policy concerning the investment of OSCA assets:
1. An amount representing approximately two pay cycles (four weeks) expenses be maintained as 'cash' in the association's main chequing account.
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Funds designated for the use of OSWATCH, ECOS, OSCAR or any other committee or special purpose as the board of directors may designate, be held in money market or treasury bill mutual funds that may be cashed without penalty at any time.
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Funds designated for longer term purposes (currently referred to as "Community Reserves") be hald in one-year guaranteed investment certificates (GICs). The board of directors will authorize each annual renewal and any withdawal of amounts from these GICs.
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The withdrawal of funds from the association's chequing account and money market/treasury bill mutual funds be authorized by two members of the OSCA executive.
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The treasurer of OSCA be granted trading authority (but not authority to withdraw funds) for the mutual fund(s) in order to enable the appropriate movement of funds between accounts.