Decision Maker: Cabinet
Decision status: Decision made
Is Key decision?: Yes
Is subject to call in?: Yes
To provide an overview of treasury management
activity during 2003/2004. The report will also consider the range
of borrowing instruments avaliable to the authority.
The Cabinet noted the content and approved the
report, in accordance with the CIPFA Code of Practice.
The Cabinet recommended to Council that Treasury Management
Practice (TMP) No. 4 be amended to allow investment in the newly
approved instruments.
The Cabinet recommended to Council that TMP 4 is amended to give
the Director of Finance and Corporate Services delegated authority
in the future to invest in all instruments approved by the
ODPM.
The Cabinet recommended to Council that Treasury Management
Practices are amended to provide for separate lending limits for
the Council and Fund Managers to run concurrently. These individual
lending limits to be set at the current rates.
In line with CIPFA's Code of Treasury
Management Practice an annual report must be taken to Cabinet
detailing the Council's treasury management outturn within six
months of the close of each financial year.The changes to Treasury
Management Practice No. 4 will allow fund managers to use a range
of instruments to achieve better interest rates without taking on
any increase in credit risk.
Publication date: 08/06/2004
Date of decision: 08/06/2004
Decided at meeting: 08/06/2004 - Cabinet
Effective from: 17/06/2004
Accompanying Documents: