Issue - meetings

To receive and consider report 160/06 of the Strategic Director and Chief Finance Officer. 

Introduction and Report Summary

The Treasury Management Policy, agreed by Council December 2001 requires the approval of an annual Treasury Management Strategy for the next financial year.  This is in line with the CIPFA Code of Practice on Treasury Management.

In March 2004 the Office of the Deputy Prime Minister, now the Department for Communities and Local Government (DCLG) issued guidance under Section 15 of the Local Government Act 2003 on Local Government cash investments which requires approval of an Annual Investment Strategy.  The guidance does acknowledge that it might be convenient to produce a single document that meets the requirements of the CIPFA code and the Secretary of State’s guidance.

This report puts forward an Annual Strategy for this authority for 2007/08 which, as last year, complies with the CIPFA code and the DCLG guidance.  This is unchanged from the existing strategy for 2006/07. This strategy restricts itself to non-property investments.  For property investment, Members should refer to the Investment Policy last agreed by the Council on 24 March 2004

The Contact Officer for this report is Steve Lawrence, Head of Asset Management 01235 540321.

Recommendation

Members are asked to approve:       

the Annual Treasury Management & Investment Strategy for 2007/08 (set out at Appendix A), and the limits and guidelines specified in it. 

(Time: 10.37am to 10.40am)

The Executive received and considered report 160/06 of the Strategic Director and Chief Finance Officer, which introduced the Treasury Management and Investment Strategy for 2007/08. 

The Treasury Management Policy required the approval of an annual Treasury Management Strategy for the next financial year.  This was in line with the Chartered Institute of Public Finance and Accountancy (CIPFA) Code of Practice on Treasury Management and the Secretary of State’s guidance.  The report put forward an Annual Strategy for 2007/08 which was unchanged from the existing strategy. The strategy was restricted to non-property investments. 

RESOLVED

that the Annual Treasury Management and Investment Strategy for 2007/08 and the limits and guidelines specified in it, as set out in Appendix A to report 160/06, be approved.