Issue - meetings
Treasury Management Policy and Strategy 2020/21
Meeting: 27/02/2020 - Council (Item 95)
95 Treasury Management Policy and Strategy 2020/21 
PDF 264 KB
Report of the Head of Corporate Resources
Minutes:
Further to Minute No. 112 of the meeting of the Cabinet held on 13 February 2020 the Council considered the report of the Head of Corporate Resources that 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 CIPFA’s 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 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 the Ministry of Housing Communities and Local Government (MHCLG) Statutory Guidance on Local Government Investments 2018. 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 Fairclough and
RESOLVED: That
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(1) |
the Treasury Management Policy Document for 2020/21 be approved;
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(2) |
the Treasury Management Strategy Document for 2020/21 be approved; and
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(3) |
the Minimum Revenue Provision Policy Statement 2020/21 be approved. |
Meeting: 13/02/2020 - Cabinet (Item 112)
112 Treasury Management Policy and Strategy 2020/21 PDF 249 KB
Report of the Head of Corporate Resources
Minutes:
The Cabinet considered the report of the Head of Corporate Resources that 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 CIPFA’s 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 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 the Ministry of Housing Communities and Local Government (MHCLG) Statutory Guidance on Local Government Investments 2018. 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 approve:
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(1) |
the Treasury Management Policy Document for 2020/21;
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(2) |
the Treasury Management Strategy Document for 2020/21; and
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(3) |
the Minimum Revenue Provision Policy Statement 2020/21. |
Reasons for Decision:
The Council has adopted CIPFA’s Code of Practice on Treasury Management in the Public Services. The Code requires that the Council sets a policy and strategy for the effective operation of the Council’s Treasury Management function during the financial year. This will 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 are properly managed to ensure that the Council can meet its capital spending obligations.
Alternative Options Considered and Rejected:
None.