29.1 Overview
Money not required for day to day operations is managed to provide maximum return for the Council within the relevant Code of Practice. This aims to balance risk with return and the security of the Council’s capital sum.
School’s need to refer to the School’s Financial Regulations to determine what investments can be made.
29.2 Responsibility/Accountability
29.2.1 Council (click here for all responsibilities for the Council)
Approving the Treasury Management Strategy.
Approving the Prudential Indicators based on the proposed Capital Programme.
29.2.2 Cabinet (click here for all responsibilities for the Cabinet)
Recommending the Treasury Management Strategy to Council based on the advice received from the Section 151 Officer.
Responsibility for the implementation and monitoring of treasury management policies and practices.
Recommending the Prudential Indicators to Council for approval based on the proposed Capital Programme.
29.2.3 Directors (click here for all responsibilities for Directors)
Leading on the development and improvement of the Treasury Management Strategy.
Ensuring that the Treasury Management Strategy is implemented.
29.2.4 Section 151 Officer (click here for all responsibilities for the Section 151 Officer)
Responsibility for the execution and administration of treasury management decisions.
All executive decisions on borrowing, investment or financing (including leasing) are delegated to the Section 151 Officer who will act in accordance with the Council’s agreed Treasury Management Strategy.
Acting as the Council’s registrar of stocks, bonds, mortgages, and to maintain records of all borrowing by the Council.
Reporting the proposed Treasury Management Strategy for the coming financial year to the Cabinet.
Reporting on the performance of the Treasury Management operation to the Cabinet.
Responsibility for ensuring compliance with the Prudential Code Indicators set as part of the Treasury Management Strategy.
Submitting changes to the Prudential Code Indicators to Full Council for approval.
Monitoring the interest rate market and reporting any decisions on borrowing strategy to Cabinet, at the next available opportunity.
Reporting to Cabinet any debt rescheduling activity at the next available opportunity.
Reporting to the monitoring of Prudential Indicators.
29.2.5 Business Unit Heads (click here for all responsibilities for Business Unit Heads)
Acquiring the prior approval of the Section 151 Officer for leasing any assets.
Accountable for ensuring that no loans are made to third parties or interests acquired in companies, joint ventures, or other enterprises without consulting the Section 151 Officer and obtaining approval from the Cabinet.
To notify the Treasury Management Team of anticipated significant income or expenditure items (over £1m) in order to inform cashflow projections.
29.3 Policy (click here for detailed procedures)
Detailed procedures are contained within Part IV of the Framework.
(click here for a copy of the current Treasury Management Strategy.)
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