Further to Minute No. 41 of the meeting of the Overview and Scrutiny Committee – Regulatory, Compliance and Corporate Services held on 7 February 2023, the Cabinet considered the report of the Executive Director of Corporate Resources and Customer Services that set out the following proposed policy and strategy documents:
a) Treasury Management Policy (Annex A);
b) Treasury Management Strategy (Annex B); and
c) Minimum Revenue Provision Policy Statement (Annex C)
Decision Made:
That Council be recommended to approve the:
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(1) |
Treasury Management Policy Document for 2023/24;
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(2) |
Treasury Management Strategy Document for 2023/24; and
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(3) |
Minimum Revenue Provision Policy Statement 2023/24
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Reasons for the Decisions:
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.