76 Treasury Management Strategy 2012-13
PDF 127 KB
Additional documents:
Minutes:
In accordance with
CIPFA’s Code of Practice on Treasury Management, the
Committee considered the report of the Head of Finance and Customer
Services setting out the draft Treasury Management Strategy
2012/13, including a series of Treasury and Prudential
Indicators. It was noted that the only
major change proposed related to the use of leading building
societies for investment purposes. In
considering the effectiveness of the decision taken by the Head of
Finance and Customer Services (acting under delegated powers) to
reduce the number of building societies from top ten to top five
ranked on asset size of the society, an alternative ranking system
had been identified that used a combination of management expenses
(operational overheads, not running costs) and asset
size. This approach had been discussed
with the Council’s Treasury Management advisers and was
considered to give a better indication of how the group would fare
in difficult economic conditions.
RESOLVED: That the Cabinet be recommended to agree the
Treasury Management Strategy 2012/13 as set out in the report of
the Head of Finance and Customer Services.