Constitution - Part 5G - Financial standing orders - FR4 Treasury Management



16.1 All money of the County Council (except the externally held assets of the Pension Fund) will be aggregated for the purposes of treasury management and is under the control of the Director of Finance (Section 151 Officer), subject to the constraints of delegated powers given to schools.
16.2 The Council will adopt the key recommendations of CIPFA Code for Treasury Management in Public Services.
16.3 Accordingly, the Section 151 Officer will annually prepare for Cabinet to recommend to Council a Treasury Management Statement including an Annual Investment Strategy, Prudential Indicators and Minimum Revenue Provision (MRP) Policy statement.

16.4 Cabinet has delegated responsibility for the implementation and monitoring of the County Council's treasury management policies and practices. All Cabinet decisions on the execution and administration of treasury management decisions including all borrowing, investment or financing decisions, and the use of external specialists in cash management where required, are delegated to the Section 151 Officer who will act in accordance with the County Council's Treasury Management Statement, Treasury Management Practices, and CIPFA's Standard of Professional Practice on Treasury Management.

16.5 The Section 151 Officer will report to Cabinet during the financial year on the treasury management activities, including an annual report for the previous financial year. The frequency of reporting will be set out in the treasury management practice statement 'Reporting requirements and management information arrangements'.

16.6 Only the Section 151 Officer (or person specifically authorised by the Assistant Director - Finance (S151 Officer)) will enter into any agreement or contract involving the borrowing of funds or credit (including leasing arrangements), or the investment of County Council monies; or the authorising of any direct debit to be charged against the County Council's bank accounts.