(KEY DECISION)

Report No. 41/2017 from the Director for Resources was received.

The Leader of the Council, Mr Mathias, introduced the report, the purpose of which was to sets out the expected treasury operations for 2017/18 to 2019/20 in accordance with the legislative requirements detailed in the report.

DECISION

Cabinet RECOMMENDED TO COUNCIL that it approve the Treasury Management Strategy in Appendix 1 (Report No. 41/2017), including the Investment Strategy, Borrowing strategy, Minimum Revenue Provision statement and Capital Expenditure Prudential indicators.

Reason for the Decision

The Council is required to approve a Treasury Management Strategy.

The Investment interest rates remain constantly low in the short term and in order to maximise the returns available, various changes have been recommended.

The Council is not planning to take on new borrowing or repay existing borrowing.