Arun District Council - Treasury Management Advisors

Tender description

The Council recognises the value in employing external advisors of treasury management services in order to acquire access to specialist skills and resources. Consideration was given to the appointment of external advisers to assist the council to achieve its treasury management objectives, as a result Capita Asset Services Limited were appointed as the Council’s treasury management advisors with effect from 1 January 2011 for 3+2 years. The terms of their appointment and methods by which their value will be assessed were properly agreed and documented and subjected to regular review. The council acknowledges that the responsibility for treasury management remains with the council at all times and will ensure that undue reliance is not placed upon the external advisers. The Council is required to adhere to the CIPFA treasury management code of practice and operate a balanced budget, which broadly means that cash raised during the year will meet cash expenditure. Part of the treasury management operation is to ensure that this cash flow is adequately planned, with cash being available when it is needed. Surplus monies are invested in low risk counterparties or instruments commensurate with the Council’s risk appetite, providing adequate liquidity initially before considering investment return (full details in section 2 – specification). An advisory service is required to support the Council’s in-house treasury management function. In 2014/15 the amount spent for treasury management advice and support was £8,760. This figure is historical and should be used as a guide only and the Council does not guarantee any reward to any contractor. The Councils current Debt portfolio is £62.04M and average Investment portfolio is approximately £58M.