Council and councillors

To receive Report No. 02/2022 from the Portfolio Holder for Finance, Governance and Performance, Change and Transformation.

In consultation with Cabinet, Councillor K Payne, Portfolio Holder for Finance,

Governance and Performance, Change and Transformation:

Recommended to Council to approve:

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

b)    The Capital Investment Strategy in Appendix 2.

Report No. 02/2022 was introduced by Councillor K Payne, Portfolio Holder for Finance, Governance and Performance, Change and Transformation.

The report presented the Treasury Management Strategy and Capital Investment Strategy for recommending Council to approve in February. It was highlighted that the Chartered Institute of Public Finance and Accountancy were consulting on new versions of the Prudential Code and Treasury Management Code, but many of the expected new provisions were already undertaken by the Council in the proposed and previous Strategies. It was also noted that the Council did not intend to borrow to make commercial investments.

Cllr Payne explained that the Council would look to develop a longer term (10 year) capital plan over the next year.  Members welcomed the intention to produce a longer term plan and thanked officers for their hard work in producing the Strategies.

RESOLVED

In consultation with the Cabinet, Councillor K Payne, Portfolio Holder for Finance, Governance and Performance, Change and Transformation:

Recommended to Council to APPROVE:

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

2)    The Capital Investment Strategy in Appendix 2.