Issue - meetings

Report No: CAB/FH/17/006

Portfolio Holder: Stephen Edwards

Chairman of the Committee: Louis Busuttil  Lead Officer: Rachael Mann

RECOMMENDED TO COUNCIL: (22 February 2017)

That:-

1.           The Annual Treasury Management and Investment Strategy Statements 2017/2018, as contained in Appendix 1 to Report PAS/FH/17/0007, be adopted. 

2.           The Treasury Management Code of Practice 2017/2018, as contained in Appendix 3 to Report PAS/FH/17/007, be approved.

(Report No: CAB/FH/17/006)

Councillor Stephen Edwards, Portfolio Holder for Resources and Performance presented this report which asked the Cabinet to consider the recommendations of the Performance and Audit Scrutiny Committee, 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 had been attached to Appendix 1 to Report No: PAS/FH/17/007.  The Committee had been advised that no changes had been made to the Credit Rating Definitions (Appendix 2 to Report No: PAS/FH/17/007), since the 2016/2017 Strategy had been presented to Cabinet on 10 February 2016.

The Treasury Management Code of Practice, which had been attached as Appendix 3 to Report No: PAS/FH/17/007 had been updated to reflect the proposal Annual Treasury Management and Investment Strategy Statements 2017/2018.

A few minor changes had been made to the List of Approved Organisations for Investment during 2016/2017 (Appendix 4 to Report No: PAS/FH/17/007) due to credit rating changes and changes to the Top 10 List of Building Societies.

The recommendations of the Performance and Audit Scrutiny Committee were set out in Report No: CAB/FH/17/006 for the Cabinet’s consideration.

With the vote being unanimous, it was

RECOMMENDED TO COUNCIL: (22 February 2017)

That:-

1.           The Annual Treasury Management and Investment Strategy Statements 2017/2018, as contained in Appendix 1 to Report PAS/FH/17/0007, be adopted. 

2.           The Treasury Management Code of Practice 2017/2018, as contained in Appendix 3 to Report PAS/FH/17/007, be approved.