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The Treasury Services team provides a range of specialist financial services to the council, including:
Treasury management is the management of our temporary cash balances and long term debt (borrowed to fund capital projects). The most important functions within the Treasury Management team are the effective control of the risks associated with these activities and the pursuit of the best possible returns consistent with those risks. The team is regulated by a detailed national code of practice and their performance is measured by an independent body against nationally recognised targets. Take a look at the latest Treasury Strategy Report.
Leasing is a method of financing the purchase of equipment by spreading its cost over a number of years rather than paying for it at the outset. We use leasing (via external lease companies) to supplement our capital programme, typically leasing items such as vehicles. The Treasury Services team is responsible for setting up these leases, maintaining a database of leased equipment and managing the portfolio of leases.
Schools IT financing
Schools IT equipment has been financed internally since 1 April 2004, following the introduction of the Prudential Code. The Treasury Services team administers this scheme.
Our banking activities are currently carried out by the National Westminster Bank. Natwest provide us with a range of bank accounts, from council-wide payment and receipt accounts to small petty cash accounts for individual establishments. Treasury Services are responsible for the monitoring and management of these banking and account arrangements.
Pension fund investments
Treasury Services are responsible for the investment of contributions made to the Shropshire County Pension Fund by staff and employers. For a more detailed description of how this is done, take a look at the Shropshire County's Pension Fund website.
We operate a purchasing card scheme, with a purchasing card being similar to a credit card in allowing you to purchase items over the phone, on the internet and at shops. Users are required to adhere to audit requirements governing how the cards are used. A web-based system is used to authorise and code expenditure. If you'd like to apply for a purchasing card, please contact Treasury Services via the contact details on this page.