It’s been the toughest time for councils: long years of austerity were followed by the pandemic and a year of delivering emergency funds and support for residents and businesses.
But how has treasury management faired? Treasurers have not only had to participate in the Covid relief effort, they’ve also had to keep up with developments in interest rates, the Prudential Code, the Treasury Management Code, accounting standards, asset allocation and debt strategy.
Once again Room151 is investigating current thinking and trends with this year’s treasury management survey.
Earlier this year treasurers overwhelmingly expected interest rates to peak at 1-2% in the next five years with a small minority anticipating 2-3%.
A huge 64% planned to lock-in to long term debt while rates were low while a third expected investment balances to drop by up to a quarter in the medium term.
Most treasurers were expecting investment yields of 1% or less, though an optimistic one in ten anticipated more. A brave one in twenty thought they might earn more than 2%.
The results provided a fascinating insight into the thinking of treasury officers and a valuable tool for decision making.
Room151 is once again calling on treasurers to complete the survey. Those who do will receive a full set of results revealing expectations and opinions from across the local government sector.
Survey results, sponsored by CCLA, will be presented at the 13th Local Authority Treasurers’ Investment Forum on September 16th.
To take the survey click here.
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