Information on Loughborough

Treasury Management Proposals Considered

Posted on 04/02/2009

CHARNWOOD Borough Councils Cabinet will consider proposals for the Council to update its Treasury Management Code of Practice on 5th February.

Treasury management is based on a Code of Practice produced by CIPFA the professional accountancy body for the public sector. It sets out the framework within which the Council makes its investment decisions. Whilst the principles contained in the Code have not altered since 2004 when the Code was first adopted, Charnwood Borough Council has decided to review and update its arrangements and to ensure that responsibilities for decisions are allocated correctly.

An annual Treasury Management Strategy setting out how the Council will deal with investments in the current economic conditions will be submitted for approval at the end of February in readiness for the new financial year.

Cllr John Bush (Conservative councillor for Wreake Villages), Charnwood Borough Councils Lead member for Finance said: "In these unprecedented times, when financial markets are in turmoil, I am pleased to receive this review of our Treasury Management procedures to ensure that the Councils investments are in safe hands