22-25 Detail - Cash Management Plan of the Township of West Orange 2025 -.pdf

5 Township of West Orange to assure that there is no unauthorized use of the funds or the Permitted Investments or Deposits. Purchase of any Permitted Investments that involve Securities shall be executed by a “delivery versus payment” method to insure that such Permitted Investments are either received by the Township of West Orange or by a third- party custodian prior to or upon the release of the Township of West Orange’s funds. To assure that all parties with whom the Township of West Orange deals either by way of Deposits or Permitted Investments are aware of the authority and the limits set forth in this Plan, all such parties shall be supplied with a copy of this Plan in writing and all such parties shall acknowledge the receipt of that Plan in writing, a copy of which shall be on file with the Designated Official (s). VIII. REPORTING REQUIREMENTS. Each month during which this Plan is in effect, the Designated Official (s) referred to in Section III hereof shall supply to the governing body of The Township of West Orange a written report of any Deposits or Permitted Investments made pursuant to this Plan, which shall include, at a minimum, the following information: A. The name of any institution holding funds of the Township of West Orange as a Deposit or a Permitted Investment. B. The amount of securities or Deposits purchased or sold during the immediately preceding month. C. The class or type of securities purchased or Deposits made. D. The book value of such Deposits or Permitted Investments. E. The earned income on such Deposits or Permitted Investments. To the extent that such amounts are actually earned at maturity, this report shall provide an accrual of such earnings during the immediately preceding month. F. The fees incurred to undertake such Deposits or Permitted Investments. G. The market value of all Deposits or Permitted Investments as of the end of the immediately preceding month. H. All other information which may be deemed reasonable from time to time by the governing body of the Township of West Orange. IX. EXPENDTURES OF DEPOSIT All distribution of funds for expenditures of Township of West Orange funds shall be recorded on a Bill List presented to the Township Council at a public meeting for their approval. Once approved, the Chief Financial Officer will distribute the funds for the expenditures as specified on the Bill List. If

st presented to the Township Council at a public meeting for their approval. Once approved, the Chief Financial Officer will distribute the funds for the expenditures as specified on the Bill List. If the Chief Financial Officer determines that withholding distribution of funds for any properly authorized expenditure until the next Council Meeting would provide a threat to anyone’s health, welfare or safety and/or negatively impact the efficiency of Township operations, the Chief Financial may immediately distribute funds for the expenditure and record it as such on the next Bill List presented to the Township Council.