Issue - meetings

Annual Treasury Management and Investment Strategy 2017/2018 and Treasury Management Code of Practice

Meeting: 07/02/2017 - St Edmundsbury Cabinet (Item 301)

301 Recommendations of the Performance and Audit Scrutiny Committee: 25 January 2017 - Annual Treasury Management and Investment Strategy 2017/2018 and Treasury Management Code of Practice pdf icon PDF 227 KB

Report No:   CAB/SE/17/007

Portfolio Holder: Ian HoulderLead Officer: Rachael Mann

 

Decision:

RECOMMENDED TO COUNCIL: (21 February 2017)

That:

 

(1)     the Annual Treasury Management and Investment Strategy Statements 2017/2018, as contained in Appendix 1 to Report No: TMS/SE/17/002, be approved; and

 

(2)     the Treasury Management Code of Practice 2017/2018, as contained in Appendix 2 to Report No: TMS/SE/17/002, be approved.

Minutes:

The Cabinet considered Report No: CAB/SE/17/007, which sought approval for the Annual Treasury Management and Investment Strategy Statements for 2017/2018 and the Treasury Management 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, the 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 Annual Treasury Management and Investment Strategy Statements 2017/2018, was attached as Appendix 1 to Report TMS/SE/17/002.  The revised investment counterparty limits, reported to Council on 20 December 2016 (Report No: COU/SE/16/021), had been incorporated into the new 2017/2018 Strategy.

 

The Treasury Management Code of Practice, attached as Appendix 2 to Report No: TMS/SE/17/002 had been updated accordingly, to reflect the proposed Annual Treasury Management and Investment Strategy Statements 2017/2018.  The revised investment counterparty limits and the use of Enhanced Cash Funds (to be added to the approved types of investment), as reported to Council on 20 December 2016 (Report No: COU/SE/16/021), had been incorporated into the 2017/2018 Treasury Management and Investment Strategy.

 

The final prudential indicators had been updated as part of the Medium Term Financial Strategy 2017-2021.

 

Councillor Ian Houlder, Portfolio Holder for Resources and Performance drew relevant issues to the attention of the Cabinet, including thanking the Performance and Audit Scrutiny Committee for  its examination of these documents.  As acknowledged and recorded under Minute 300 above, the decisions taken previously to support the increase in counterparty limits and include the use of Enhanced Cash Funds in the authorised investments lists was proving justifiable in order to achieve a better rate of return.

 

RECOMMENDED TO COUNCIL:

That:

 

(1)    the Annual Treasury Management and Investment Strategy Statements 2017/2018, as contained in Appendix 1 to Report No: TMS/SE/17/002, be approved; and

 

(2)    the Treasury Management Code of Practice 2017/2018, as contained in Appendix 2 to Report No: TMS/SE/17/002, be approved.