Who does monitor Treasury Management?
There is an ongoing discussion regarding this. The Cabinet Member for Resources, the Leader and the Cabinet are all responsible for Treasury Management and will inform officers if they feel that the risk levels are too high. The responsibility of the Regulatory and Audit Committee is to seek assurance that this has happened. The Committee is also interested in whether Cabinet is taking decisions at the right level of risk. Cabinet is part of the process which the Committee needs to challenge. Page 15 – The table shows three recommendations which are not met – why is this? Recommendation one is about developing the role of the Committee. Recommendation two relates to the updated CIPFA code which has not yet been published. Recommendation three is not required at BCC as there is already adequate challenge in place. As regards the CIPFA code, we believe that we have pre-empted the changes and that we have followed good practice. It is clear that there is very limited choice in terms of in
