Council and councillors

KEY DECISION

05/2020

Cabinet recommends to Council to approve:  

a)        the Treasury Management Strategy in Appendix 1 of the report including the Investment Strategy, Borrowing strategy, Minimum Revenue Provision statement and Capital Expenditure Prudential indicators.

b)    the Capital Investment Strategy in Appendix 2 of the report.

Report No.05/2020 was received from the Strategic Director for Resources. Councillor Brown, Deputy Leader and Portfolio Holder for Finance introduced the report the purpose of which was to set out the statutory reports expected in relation to treasury and capital investment operations for 2020/21, linked to the Council’s Budget, Medium Term Financial Strategy and Capital Programme.

During discussion the following points were noted:

·         The Chartered Institute of Public Finance and Accountancy (CIPFA) had updated their guidance and the Strategy had been prepared in line with this guidance.

·         There had been no change in the Council’s attitude to borrowing which was to take a very conservative approach. Any borrowing to invest would be approved by the Council and it was Council policy not to invest outside of the County.

DECISIONS:

Cabinet RECOMMENDED to Council to APPROVE: 

a)     the Treasury Management Strategy in Appendix 1 of the report including the Investment Strategy, Borrowing strategy, Minimum Revenue Provision statement and Capital Expenditure Prudential indicators.

b)    the Capital Investment Strategy in Appendix 2 of the report.

Reasons for the decision

The Council is required to approve a Treasury Management Strategy and Capital Strategy