Treasury Management Best Value Review
Decisions made in Treasury Management and policies adopted can have a material impact on the Council's revenue budgets. This is a specialised area that is provided to the Council by Treasury Management consultants who give advice on a range of strategic and financing issues.
The Treasury Management service is governed by a code of practice on Treasury Management, produced by the Chartered Institute of Public Finance and Accountancy (CIPFA)
The highlights of this review were:
- renegotiation of consultancy fees from £20,000 to £14,000 pa, effective 1 April 2000, with no changes to the existing level of service;
- the 1999 renewal of the contract for banking services originally awarded to the Bank of Scotland in 1996. By tendering the service, the most cost effective charging structure for payments was being sought, consequently Clackmannanshire Council is paying less than the Scottish average for bank charges;
- achievement of full compliance with the CIPFA Treasury Management code and guidance as of June 2000.
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