Case study

Scottish Federation of Housing Associations – Treasury Strategy Guide

The Scottish Federation of Housing Associations (SFHA) exists to lead, support, promote and represent housing associations and co-operatives across Scotland. SFHA has 137 members across Scotland, who vary greatly in terms of size, geography and service offering.


Members asked SFHA to develop new guidance on treasury management to help ensure associations have a robust treasury management policy, accompanying procedures and effective controls and monitoring, including a policy template and risk management guidance.

What we did

DTP undertook this work in cooperation with a panel of SFHA member finance directors. We developed a policy template that meets the requirements of the CIPFA Treasury Management Code – and linked to the Scottish Housing Regulator’s Regulatory Standards and its associated reporting requirements and timetables. The policy is supported by a detailed risk mapping and data collation tool which together ensure all the issues identified in the CIPFA Code are addressed by the RSL. In developing the policy, we referred to best practice in the housing sector across the UK. We also asked the SHR to review and comment on the draft.

To support the policy, we prepared guidance on treasury management aimed at board members and senior officers, which explains why treasury management is important; what the risks associated with it are; and how techniques and practices such as golden rules and reporting frameworks can help boards and management teams demonstrate effective planning, reporting and risk management when considering the SHR Assurance Statement and Business Plans.

We also included a comprehensive glossary of treasury management terms which will be a useful document in board member training and induction, and a recommended structure for a treasury management strategy.


SFHA members now have access to a treasury management policy template which can be easily tailored to their particular circumstances, and guidance and support to help board members be effective in this critical area of business.

DTP have successfully demystified a technical subject to help support SFHA members to develop robust treasury management policies and skills in their organisations which meet the expectations of regulators and stakeholders.

Shona Mitchell, Policy Lead at SFHA

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