Issue - meetings

Dewi Morgan, Head of Finance (CJC’s Statutory Finance Officer) and Sian Pugh, Assistant Head of Finance to present the report.

To accept the report which provided the Corporate Joint Committee's Treasury Management Strategy Statement for 2025/26.

The report was presented by Dewi Morgan, Head of Finance (CJC Statutory Officer) and Sian Pugh, Assistant Head of Finance.

RESOLVED:

The report which provided the Joint Corporate Committee's Treasury Management Strategy Statement for 2025/26 was accepted.

DISCUSSION

The report was submitted stating that treasury management decisions were made on a daily basis, and the Finance Department at Cyngor Gwynedd was required to act in accordance with the approved Treasury Management Strategy. The transfer of the Ambition Board to the CJC took place on 1 April 2025, and therefore the statement included the balance sheets of the CJC and NWEAB.

It was explained that the statement was based on the CIPFA Code and the Guide on Local Authority Investments by the Welsh Government, and therefore fulfilled the CJC's legal responsibility under the Local Government Act 2003. It was explained that treasury management was about keeping an abundance but not an excess of cash to meet the CJC's spending needs, managing risks associated with striking the right balance between risk and returns. It was expressed that in order to formulate this Strategy, it was explained that the department had received expert advice from treasury management advisors, Arlingclose. It was explained that the investments were consistent with the type of investments that Cyngor Gwynedd makes, and that there were limits to the amount allowed for each institution to spread the risk.⁠