Treasury Management in the Public Services: Code of Practice and Cross-Sectoral Guidance Notes (2011 Edition)



This Code has been developed to meet the needs of local, police and fire authorities, registered social landlords, further and higher education institutions, and the NHS in order to provide a clear definition of treasury management activities.







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CIPFA has adopted its own clear definition of treasury management activities as ‘the management of the organisation’s investments and cash flows, its banking, money market and capital market transactions; the effective control of the risks associated with those activities; and the pursuit of optimum performance consistent with those risks.’

Although generic in definition, in practice there are substantial variations between different parts of the public services in the nature and extent to which they employ treasury management activities and techniques in pursuit of their business and service objectives.

For this reason in addition to the cross-sectoral guidance notes which accompany the Treasury Management Code, we are also developing practical sector-specific Guidance Notes to explain the differences in practice more fully. Local authorities in England and Wales are required to have regard to the Code under the provisions of the Local Government Act 2003 and in Scotland under Part 7 of the Local Government in Scotland Act 2003.

The recommendations made in the Code provide a basis for all these public service organisations to create clear treasury management objectives and to structure and maintain sound treasury management policies and practices.

Key revisions include the requirements for public sector organisations who have the powers to enter into derivatives and the move to self-financing for Housing Authorities.

This title is available as a bookmarked PDF only.

The PDF offers an organisational electronic resource, which comes with a licence for networking to all employees of the purchasing public service organisation. Terms for other categories of purchaser, including those organisations operating shared service arrangements, are available from CIPFA Publications

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