Report no: 161/2020

(Key decision)

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 which is unchanged from that approved last year in Report 05/2020

Councillor G Brown, as the relevant Cabinet Member elaborated on the report and referred to the recommendations. He stated that there had been no changes proposed from last year’s Treasury Management Strategy in terms of the Council’s approach to borrowing. It was noted in the context of the budget and medium term financial position no other borrowing was advisable at the current stage.

Councillor G Brown further explained that the Government had raised serious concerns about some Councils who had borrowed to invest in commercial properties and had not generated the financial returns expected. It was explained that Rutland County Council’s Capital Investment Strategy required investment in-county for regeneration.

RESOLVED:

That Cabinet recommend 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 which is unchanged from that approved last year in Report 05/2020