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The first version of the Treasury Management in the Public Services: Code of Practice and Cross-Sectoral Guidance Notes (Treasury Management Code) was published in 2001. While this Code covers all public services, it is primarily designed for the use of local authorities (including police and fire authorities), providers of social housing, higher and further education institutions and the National Health Service.
The Treasury Management Code was last updated in 2011. Since then the landscape for public services has changed significantly following the sustained period of reduced public spending and the developing localism agenda. There are significant treasury management portfolios within the public services; for example, as at 31 March 2016 UK local authorities had outstanding borrowing of £88bn and investments of £32bn.
This is therefore an appropriate time for the Treasury Management Code to be reviewed and views sought as to areas where it can be strengthened or amended. So CIPFA has now issued the Treasury Management in the Public Services: Code of Practice and Cross-Sectoral Guidance Notes Consultation (PDF 264 KB). The accompanying Pro-forma Response Sheet (Word 54 KB) should be downloaded to submit your response.
The closing date for responses is 21 April 2017. When CIPFA has considered the responses there will be a further formal consultation on our proposals.