Issue - meetings

To receive and consider report 137/07 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.

The Department for Communities and Local Government (DCLG) has 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 acknowledges 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 2008/09 which, as last year, complies with the CIPFA code and the DCLG guidance.  This is largely unchanged from the existing strategy for 2007/08. 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, Principal Accountant (Technical), telephone (01235 540321),

email: steve.lawrence@whitehorsedc.gov.uk.  

Recommendation

Members are asked to approve the Annual Treasury Management & Investment Strategy for 2008/09 (set out at Appendix A), and the limits and guidelines specified therein.

(Time: 3.12pm to 3.17pm)

The Executive received and considered report 137/07 of the Strategic Director and Chief Finance Officer.  The Treasury Management Policy, agreed by Council in December 2001, 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. 

The then named Department for Communities and Local Government (DCLG) had issued guidance under Section 15 of the Local Government Act 2003 on Local Government cash investments which required approval of an Annual Investment Strategy.  The report put forward an Annual Strategy for 2008/09 which complied with the CIPFA code and the DCLG guidance.  This was largely unchanged from the existing strategy for 2007/08 with unchanged limits.  The strategy was restricted to non-property investments. 

Councillor Andrew Crawford, Vice-Chair of the Scrutiny Committee, was invited to speak.  He asked if the Executive was content to approve the strategy, which allowed large sums to be deposited with the 30^th largest building society.  The Executive was content with the proposed strategy. 

RESOLVED  (by seven votes to nil)

that the Annual Treasury Management and Investment Strategy for 2008/09 and the limits and guidelines specified therein, as set out in Appendix A to report 137/07, be approved.