Issue - meetings

Report No:   CAB/SE/18/009

Portfolio Holder: Ian HoulderLead Officer: Rachael Mann

RECOMMENDED TO COUNCIL: (20 February 2018)

That:

(1)     the Updated (December 2017) Treasury Management in the Public Services Code of Practice and Cross-Sectional Guidance Notes, be adopted;

(2)     the Treasury Management Policy Statement and Investment Strategy 2018-2019, as set out in Appendix 1 to Report No: TMS/SE/18/002, be approved; and

(3)     the Treasury Management Code of Practice 2018-2019, as set out in Appendix 2 to Report No: TMS/SE/18/002, be approved.

The Cabinet considered Report No: CAB/SE/18/009, which sought approval for the annual Treasury Management Policy Statement and Investment Strategy 2018/2019 and Code of Practice.

The Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management required that, prior to the start of the financial year, Council formally approved an Annual Treasury Management and Investment Strategy, setting out the Council’s treasury management policy and strategy statements for the forthcoming year.

The proposed Treasury Management Policy Statement and Investment Strategy 2018/2019, was attached as Appendix 1 to Report No: TMS/SE/18/002. 

In December 2017, CIPFA issued an updated Treasury Management in the Public Services Code of Practice and Cross-Sectional Guidance Note, which had been incorporated into the new 2018/2019 Strategy.

Councillor Ian Houlder, Portfolio Holder for Resources and Performance, drew relevant issues to the attention of Cabinet, including highlighting the main changes to the proposed Strategy and the Code of Practice, as summarised in paragraph 1.3.2 of the report.

The Cabinet supported these changes accordingly, as set out in its recommendations to Council below.

RECOMMENDED TO COUNCIL:

That:

(1)    the Updated (December 2017) Treasury Management in the Public Services Code of Practice and Cross-Sectional Guidance Notes, be adopted;

(2)    the Treasury Management Policy Statement and Investment Strategy 2018-2019, as set out in Appendix 1 to Report No: TMS/SE/18/002, be approved; and

(3)    the Treasury Management Code of Practice 2018-2019, as set out in Appendix 2 to Report No: TMS/SE/18/002, be approved.