To consider the report of the Director of Resources.
The Committee considered the report of the Director of Resources, the purpose of which was to comply with the Chartered Institute of Public Finance and Accountancy (CIPFA) revised Code of Practice for Treasury Management’s requirement for regular scrutiny of Treasury Management Strategy and Practices.
The Director of Resources advised Members that the Treasury Management strategy (Appendix 1 to the report) had been updated in line with statutory requirements and good practice, having regard to the council’s financial position and the advice of the Council’s external treasury advisor, Arlingclose Ltd. The supporting Treasury Management Practices was attached at Appendix 2 to the report.
The report was due to be considered by the Finance and Corporate Services Committee at its meeting on 29 January 2019.
The Director of Resources advised that Arlingclose had offered to give a presentation to this Committee or a combination of this Committee and the Finance and Corporate Services Committee providing details of economic context, background, potentially BREXIT and the effects around the Council’s Treasury Management Strategy and Investments. It was agreed that this presentation should be offered to a joint meeting of this Committee and the Finance and Corporate Services Committee. In response to a question, the Director of Resources agreed to amend the Treasury Management Strategy highlighting those areas specifically relating to Maldon along with specific choices and forward this to Members for discussion at the presentation.
The Committee complimented the Director of Resources on the comprehensive report and its appendices which provided more information than that received in previous years.
(i) that the Treasury Management Strategy and Practices be noted;
(ii) that a presentation on Treasury Management from Arlingclose Ltd, the Council’s external treasury advisor, be arranged for this Committee and the Finance and Corporate Services Committee.