Issue - meetings

Report No: CAB/FH/18/010

Portfolio Holder: Stephen Edwards            Lead Officer: Rachael Mann

RECOMMENDED TO COUNCIL: (21 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 and 2 to Report No: PAS/FH/18/009, be approved.

3.           The Treasury Management Code of Practice 2018-2019, as set out in Appendix 3 and 4 to Report No: PAS/FH/18/009, be approved.

(Report No: CAB/FH/18/010)

The Cabinet received this report 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.  These documents were attached as Appendix 1 to the report.

In December 2017, CIPFA had 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.  The main changes to the Strategy and the Code of Practice were outlined in paragraph 1.2.1 of the report.  The Treasury Management Code of Practice (attached as Appendix 3) had been updated accordingly to reflect these proposed changes.

The Performance and Audit Committee had also been provided with information on the interest rate projections, counterparty ratings (Appendix 2) and the list of approved organisations for investment and lending criteria and limits (Appendix 4).

It was proposed, seconded and with the vote being unanimous, it was

RECOMMENDED TO COUNCIL: (21 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 and 2 to Report No: PAS/FH/18/009, be approved.

3.           The Treasury Management Code of Practice 2018-2019, as set out in Appendix 3 and 4 to Report No: PAS/FH/18/009, be approved.