Issue - meetings
Treasury Management Policy and Strategy 2019/20
Meeting: 28/02/2019 - Council (Item 84)
84 Treasury Management Policy and Strategy 2019/20 
PDF 281 KB
Report of the Head of Corporate Resources
Minutes:
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:
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(a) |
the requirements of the 2017 Prudential Code for Capital Finance in Local Authorities; and
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|
(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.
Meeting: 14/02/2019 - Cabinet (Item 96)
96 Treasury Management Policy and Strategy 2019/20 PDF 281 KB
Report of the Head of Corporate Resources
Minutes:
The Cabinet 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. |
Decision Made:
That the Council be recommended to:
(1) approve the Treasury Management Policy Document for 2019/2020;
(2) approve the Treasury Management Strategy Document for 2019/2020; and
(3) approve the Minimum Revenue Provision Policy Statement 2018/2019 and 2019/20.
Reasons for Decision:
The Council had adopted CIPFA’s Code of Practice on Treasury Management in the Public Services. The Code required that the Council sets a policy and strategy for the effective operation of the Council’s Treasury Management function during the financial year. This would ensure that cash flow is adequately planned, surplus monies are invested commensurate with the Council’s risk appetite whilst providing adequate portfolio liquidity, and that the borrowing needs of the Council were properly managed to ensure that the Council can meet its capital spending obligations.
Alternative Options Considered and Rejected:
None.