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Decision details

Treasury Management Policy Statement, Minimum Revenue Provision Policy Statement & Annual Investment Strategy 2018/2019

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Decision:

The Leader of the Council has delegated to the Cabinet the power to make the decisions set out below

 

RESOLVED

 

The Cabinet is asked to recommend to Full Council that it approve:

1.1         The Treasury Management Policy Statement 2018/2019 as set out in this report including the recommendations that:

1.1.1     The Council takes up the balance of its 2017/2018 borrowing requirement and future years’ borrowing requirements, as set out in paragraph 3.6 of the report.

1.1.2     That for the reasons detailed in paragraph 3.11, opportunities for debt rescheduling are reviewed throughout the year by the Executive Director of Resources and Section 151 Officer and that, he be given delegated authority, in consultation with the Cabinet Member for Finance and Treasury and in conjunction with the Council’s independent treasury advisers, to undertake such rescheduling only if revenue savings or additional cost avoidance can be achieved at minimal risk in line with organisational considerations and with regard to the Housing Revenue Account (HRA) as set out in the Council’s Finance Strategy 2016-2020.

1.1.3     That delegated authority be given to the Executive Director of Resources and Section 151 Officer, in consultation with the Cabinet Member for Finance and Treasury, to make any necessary decisions to protect the Council’s financial position in light of market changes or investment risk exposure.

1.1.4   The Council adopts the 2017 edition of the revised Treasury Management Code ofPractice and Prudential Code issued by CIPFA in December 2017.

1.2         The Annual Investment Strategy as set out in paragraph 3.14 of this report.

1.3         That the Authorised Borrowing Limits (required by Section 3 of the Local Government Act 2003) as set out in paragraph 3.7 and as detailed in Appendix C of the report be as follows:

2018/2019                 2019/2020                 2020/2021

£1,307.067m             £1,385.623m             £1,511.323m

The Prudential Indicators as set out in Appendix C of this report.

1.4         The Annual Minimum Revenue Provision Policy Statement (required by SI 2008/414) as set out in Appendix D of the report.

1.5         The Council’s authorised counterparty lending list as at 31st December 2017 as set out in Appendix E of this report and the rating criteria set for inclusion onto this list.

 

Report author: Richard Simpson, Lisa Taylor

Publication date: 06/03/2018

Date of decision: 26/02/2018

Decided at meeting: 26/02/2018 - Cabinet

Accompanying Documents: