Common use of Treasury and Investment Management Clause in Contracts

Treasury and Investment Management. Key Task for each Council Timing Treasury Management (TM) Strategy to be discussed and agreed with s151 officers (including key prudential indicators, expected CFR, MRP policy and overall financing of the expected capital programme) By 31 December each year Investment Strategy to be discussed and agreed with s151 officers (including overall investment allocation strategy, due diligence/credit rating requirements and benchmark returns for each category of investments By 31 December each year TM and Investment Strategies drafted and reviewed by s151 officers By 31 January each year Confirm that content of TM and Investment Strategies meet relevant CIPFA and MHCLG requirements By 31 January each year Ensure TM Strategy is consistent with the Capital Budget and other Council plans By 31 January each year TM and Investment Strategy approved by members following pre-meeting briefing, and presented to Full Council as part of budget reports pack As part of budget setting each year Agree and deliver a programme of added value activities with each s151 officer. Report monthly to s151 and quarterly to members on work done and outcomes achieved. Strategic Finance Manager to spend 33%- 50% of their time on these activities TM and Investments year-end report discussed with s151 and presented to members By 30 April each year Evaluate the potential for, and value for money offered by, current opportunities for early debt repayment or rescheduling Quarterly TM monitoring reports discussed with officers and presented to members Quarterly Investment monitoring reports discussed with officers and presented to members Quarterly Hold regular meetings with Link Asset Management and other TM advisers to identify new borrowing and investment opportunities (s151 officers to attend) Quarterly No breach of Prudential Indicators set out in TM Strategy and monitoring reports Monitor quarterly Reconcile TM Strategy to capital outturn reports and update as necessary Monitor quarterly Ensure full compliance with agreed due diligence policies Monitor quarterly No late payments or default events on investment balances and counterparty loans Monitor quarterly All investment and loan transactions processed in line with strategies once agreed Monitor monthly 100% accuracy rate in posting treasury and investment journals to relevant GL Monitor monthly Counterparty list ratings in line with TM and Investment Strategies Monitor monthly Average bank balances maintained in line with TM Strategy approved by members. Monitor weekly No overdrawn cash balances outside of agreed limits Monitor weekly Ensure each Council has sufficient liquid funds available to make payments as liabilities fall due Monitor weekly Counterparty list ratings updated within 24 hours of notification of change Monitor weekly All bank transfers, CHAPS payments and treasury management transactions processed within 24 hours of receiving authorisation/ request Monitor weekly 100% accuracy rate in processing cash, bank and treasury transactions Monitor weekly Ensure each investment portfolio achieves diversification/asset allocation targets Cover in year-end report Confirm that CFR disclosures in each council’s year end Statement of Accounts are consistent with Prudential Indicators As part of year end close