We hold funds that we can invest on a daily basis.
We collect council tax, business rates and council house rents which are banked until needed to pay for salaries and running costs.
Some of the money is paid to Cumbria County Council, Cumbria Police and central government.
We have reserves for the future.
We lend money to other organisations in strict accordance with our Treasury Management Strategy.
The security of investments is more important than the returns. We can't invest in shares and are not exposed to possible losses in such investments.
Core investments are placed with an external fund manager.
Our cash flow is managed by finance team. This occasionally involves borrowing but more usually lending on the money market. Investments are made for short periods with public authorities, banks and building societies.
We have deposit accounts in our own name with three banks.
The council employs a treasury consultant to advise on all aspects of investments.