Decision - Treasury Management Policy and Strategy 2019/20

Decision details

Treasury Management Policy and Strategy 2019/20

Decision Maker: Cabinet, Council

Decision status: Recommendations approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

The Council has previously adopted CIPFA’s Code of Practice on Treasury Management in the Public Services. This report presents for approval the Treasury Management Policy Document 2019/20, the Treasury Management Strategy Document 2019/20, and the proposed Minimum Revenue Provision Policy Statement 2018/19 as per the requirements of the code. This will allow for the effective operation of the Council’s Treasury Management function during the 2019/20 financial year.

Decisions:

Further to Minute No. 96 of the Cabinet Meeting held on 14 February 2019, the Council considered the report of the Head of Corporate Resources which set out the following proposed policy and strategy documents, namely, the Treasury Management Policy, the Treasury Management Strategy and the Minimum Revenue Provision Policy Statement.

 

The report indicated that the Council had adopted the Chartered Institute of Public Finance and Accountancy (CIPFA) revised 2017 Code of Practice on Treasury Management in the Public Services which recommended the production of annual Treasury Management Policy and Strategy Documents; and that in addition, the Council had also adopted, and incorporated into both documents:

 

(a)

the requirements of the 2017 Prudential Code for Capital Finance in Local Authorities; and

 

(b)

an Investment Strategy produced in line with guidance from the then Office of the Deputy Prime Minister, concerning the investment of surplus funds. This set out the manner in which the Council would manage its investments, giving priority to the security and liquidity of those investments.

 

It was moved by Councillor Maher, seconded by Councillor Cummins and

 

RESOLVED:

 

That approval be given to:

 

(1)      the Treasury Management Policy Document for 2019/2020;

 

(2)      the Treasury Management Strategy Document for 2019/2020; and

 

(3)      the Minimum Revenue Provision Policy Statement 2018/2019 and 2019/20.

Report author: Graham Hussey

Publication date: 05/03/2019

Date of decision: 28/02/2019

Decided at meeting: 28/02/2019 - Council

Accompanying Documents: