Published 7th March 2018
The Government has published a new edition of its statutory guidance on local government investments. The new edition applies in England only, for accounting periods starting on or after 1st April 2018. The guidance can be found by clicking here.
The main change is that the guidance is now mandatory for parish and town councils where investments exceed or are expected to exceed £100,000 in the financial year (formerly £500,000). The reason for lowering the threshold is set out in paragraph 11 of the 'informal commentary' (page 10). As before councils where investments are expected to exceed £10,000 are encouraged to adopt the principles in the guidance.
Councils where the guidance applies should prepare an Investment Strategy containing the disclosure and reporting requirements specified in the guidance and have it approved by Full Council.
The Society cannot advise councils on Investment Strategy.