Medium Term Financial Strategy
This strategy sets out how the Commissioner can provide the Chief Constable with the resources to deliver the priorities in the Police & Crime Plan.
Treasury Policy Statement and Investment Strategy
The Treasury Strategy covers the specific activities proposed over a our year period in relation to both borrowing and investments and ensures a wide range of advice is taken to maintain and preserve all principal sums, whilst obtaining a reasonable rate of return, and that the most appropriate borrowing is undertaken. The primary objective of the investment strategy is to maintain the security of investments at all times.
The Treasury Strategy complies with the requirements of the Code, the Prudential Code for Capital Finance in Local Authorities and Part 1 of the Local Government Act 2003.
The Prudential Code for Capital Finance in Local Authorities requires Police and Crime Commissioners (PCC’s) to have in place a Capital Strategy. The Capital Strategy is intended to give a high level overview of how capital expenditure, capital financing and treasury management activity contribute to the provision of services along with an overview of how associated risk is managed and the implications for future financial sustainability.
The Capital Strategy forms a key part of the PCC’s overall Corporate Planning and Governance Framework. It sets out the long-term context in which capital expenditure and investment decisions are made and it provides a mechanism by which the PCC’s capital investment and financing decisions can be aligned over a medium term planning horizon.
The Governance Framework consists of the Statement of Governance which gives clarity to the way the PCC and Chief Constable will govern both jointly and separately to ensure they are conducting
business in a lawful and efficient manner.
In addition there is also the Scheme of Corporate Governance which sets out the delegations from the PCC and the Chief Constable to their respective staff. In addition, it incorporates other instruments such as
the financial regulations and standing orders relating to contracts.
This Schemes provide a framework which ensures business is carried out lawfully and efficiently, ensuring that decisions are not unnecessarily delayed and are taken at the appropriate level. It forms part of the overall corporate governance framework of the two corporations sole.