The Board
received the Treasury Management Strategy Statement, (TMSS) which incorporated
the Annual Investment Strategy (AIS) and the Minimum Revenue Provision (MRP)
Strategy for 2022/23.
The TMSS was appended to the report and detailed the expected
activities of the treasury function in the forthcoming financial year
(2022/23). Its production and submission
to Council was a requirement of the CIPFA Prudential Code and the CIPFA
Treasury Management Code.
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 and to
prepare an Annual Investment Strategy (AIS), which set out the Council’s
policies for managing its investments and for giving priority to the security
and liquidity of those investments.
Government guidance notes stated that authorities could combine the TMSS
and the AIS into one report, which the Council had done and was included in
Section 4.
Members
noted that the production 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 the full policy shown in Appendix A.
RESOLVED:
That Council be recommended to adopt the policies,
strategies, statements, prudential and treasury indicators outlined in the
report.