| Item | Description | Resolution |
|---|---|---|
| PART 1 - PUBLIC | ||
| MATTERS FOR RECOMMENDATION TO THE COUNCIL | ||
| CB 10/026 |
Treasury Management Strategy Statement and Annual Investment Strategy for 2010/11 |
The report of the Director of Finance sought approval for adoption of the revised CIPFA Treasury Management Code of Practice and Cross-Sectoral Guidance Notes 2009, the revised Treasury Management Guidance Notes for Local Authorities 2009 and the Treasury Management Strategy Statement and Annual Investment Strategy for 2010/11 as required by the Local Government Act 2003. It was noted that in response to the difficulties caused by the banking crisis CIPFA had undertaken a review of the Treasury Management Code of Practice and Guidance Notes. Attention was drawn to the primary changes to the Code including a specific reference to "investments", the assessment and spread of counter party risk, enhancement of the scrutiny process and the strengthening of internal processes. The Audit Committee had been invited to review Treasury Management matters at its meeting on 26 January 2010 and the revised documents had been commended for adoption. RECOMMENDED: That (1) the CIPFA Treasury Management Code of Practice 2009 and Cross Sectoral Guidance Notes together with the four clauses set out at Appendix 1 of the Annex to the report be adopted by the Council; (2) the revised Treasury Management Policy Statement set out at Appendix 2 of the Annex to the report be adopted; and (3) the Treasury Management Strategy Statement and Annual Investment Strategy for 2010/11, as set out at the Annex to the report, be adopted. *Referred to Council |