Agenda item

1.

Title of Item/Report

Treasury Management Practices Update

2.

Record of the Decision

Consideration was given to a report that provided an update to the delegations for treasury management activities included within the Treasury Management Practices.

In accordance with CIPFA’s Code of Practice for Treasury Management in the Public Services the Council has regard to the key recommendations when determining the current Treasury Management Strategy.

Accordingly, the Council creates and maintains, as the cornerstones for effective treasury management:-

•         A treasury management policy statement, stating the policies, objectives and approach to risk management of its treasury management activities.

•         Suitable Treasury Management Practices (TMPs), setting out the manner in which the Council will seek to achieve those policies and objectives, and prescribing how it will manage and control those activities.

The Council (i.e. full Council) will receive reports on its treasury management policies, practices and activities including, as a minimum, an annual strategy and plan in advance of the year.

The Council delegates responsibility for the implementation and monitoring of its treasury management policies and practices to the Audit and Governance Committee and for the execution and administration of treasury management decisions to the nominated Section 151 Officer (the officer with Responsibilities under Section 151 of the Local Government Act 1972) will act in accordance with the organisation’s policy statement and TMPs and CIPFA’s Standard of Professional Practice on Treasury Management.

The Council’s Treasury Management Strategy was last approved by Council in February 2025 as part of the Medium Term Financial Plan Update and Strategy Report.

The Treasury Management Practices were last approved by Council as part of the Medium Term Financial Plan Update and Strategy Report in February 2023 and cover the following topics

TMP 1 - Risk management

TMP 2- Performance measurement

TMP 3- Decision-making and analysis

TMP 4- Approved instruments, methods and techniques

TMP 5- Authority, clarity and segregation of responsibilities and dealing arrangements

TMP 6 - Reporting requirements and management information arrangements

TMP 7 - Budgeting, accounting and audit arrangements

TMP 8- Cash and cash flow management

TMP 9- Anti Money laundering

TMP 10 - Staff training and qualifications

TMP 11 - Use of external service providers

TMP 12 - Corporate governance

TMP 5; Authority, clarity and segregation of responsibilities and dealing arrangements, delegates responsibility for day to day treasury management activities to nominated officers within the finance service. Following the retirement of the Council’s existing Section 151 Officer (the officer with responsibilities under Section151 of the Local Government Act 1972), the delegations had been updated.  The updated TMP5 was attached to the report at Appendix A.

RECOMMENDED to Council that the updated TMP5 included at Appendix A of the report, including the updated officer delegations relating to treasury management activities be approved.

3.

Reasons for the Decision

Following the recent retirement of the Council’s Section151 Officer, the delegations for treasury management activities require updating.

4.

Alternative Options Considered and Rejected

None

5.

Declared (Cabinet Member) Conflicts of Interest

None

6.

Details of any Dispensations

None

7.

Date and Time by which Call In must be executed

N/A