Agenda item

The report details the new requirement contained within the Chartered Institute of Public Finance and Accountancy (CIPFA) Treasury Management Code of Practice.

Alan Nash, Chief Officer: Financial Services introduced the report.  He told the Committee that a large part of the report should be familiar as it had appeared in the budget report which had gone to the Council.  In future this document would be presented to the January meeting of the Committee, before going to the Executive in February and then to the March meeting of the Council.  There had been recent changes to the code of practice, with new requirements that the TMR be considered by a “responsible body”, which was deemed to be the Governance and Audit Committee. The members agreed that they needed training in order to give proper consideration to such a document, and the Chief Officer: Financial Services offered a session with an external trainer and some in-house training. The Borough Treasurer felt that it was necessary to train members of the Committee so that they could understand what they were looking at and understand the significance of various factors within the document.

The Committee noted that Council had approved the necessary strategies and policies at its meeting on 3 March 2010 and had nominated the Governance and Audit Committee as the responsible body.