Issue - meetings

Executive Board considered the attached report.

RECOMMENDED: That Council adopt the policies, strategies, statements, prudential and treasury indicators outlined in the report.

            The Council considered a report of the Operational Director, Finance, on the Treasury Management Statement, which incorporated the Annual Investment Strategy and the Minimum Revenue Provision Strategy for 2020/21.

            RESOLVED: That Council adopt the policies, strategies, statements, prudential and treasury indicators, outlined in the report.

The Board considered a report of the Operational Director, Finance, proposing the Treasury Management Strategy Statement (TMSS) which incorporated the Annual Investment Strategy and the Minimum Revenue Provision Strategy for 2020/21.

            The TMSS was attached to the report and detailed the expected activities of the treasury function in the forthcoming financial year (2020/21).

            The Local Government Act 2003 required the Council to “have regard to” the Prudential Code and to set Prudential Indicators for the next three years, to ensure that the Council’s capital investment plans were affordable, prudent and sustainable. The Act therefore required the Council to set out its treasury strategy for borrowing as well as an Annual Investment Strategy, which set out the Council’s policies for managing its investments and for giving priority to the security and liquidity of those investments. However, Government guidance stated that authorities could combine the statement and the strategy into one report, and the Council had adopted this approach.

            Members noted that the provision of a Minimum Revenue Provision Policy Statement was required and a formal statement for approval was contained within the report at paragraph 2.3, with Appendix A detailing the full policy.

            RESOLVED: That Council be recommended to adopt the policies, strategies, statements, prudential and treasury indicators outlined in the report.