Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
The Leader of the Council delegated authority to the Cabinet to make the following decisions:
RESOLVED: To recommend to Full Council
1. The Treasury Management Strategy Statement 2021/2022 as set out in this report including the recommendations:
1.1.That the Council takes up borrowing requirements as set out in paragraph 4.12 of the report.
1.2.That for the reasons detailed in paragraph 4.17 of the report, opportunities for debt rescheduling are reviewed throughout the year by the Director of Finance, Investment and Risk (S151 Officer) and that they be given delegated authority, in consultation with the Cabinet Member for Resources & Financial Governance and Deputy Leader (Statutory) and Cabinet Member for Croydon Renewal 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 Medium Term Financial Strategy 2020/2024.
1.3.That delegated authority be given to the Director of Finance, Investment and Risk (S151 Officer), in consultation with the Cabinet Member for Finance and Resources, to make any necessary decisions to protect the Council’s financial position in light of market changes or investment risk exposure.
2. That the Council adopts the Annual Investment Strategy as set out in paragraphs 4.19 and 4.20 of the report.
3. That the Authorised Limit (required by Section 3 of the Local Government Act 2003) as set out in paragraph 4.13 of the report and as detailed in Appendix C of the report be as follows:
2021/2022 2022/2023 2023/2024
£2,037.804m £2,090.958m £2,134.928m
4. That the Council approve the Prudential Indicators as set out in Appendix C of the report.
5. That the Annual Minimum Revenue Provision Policy Statement (required by the Local Authorities (Capital Financing and Accounting) (England) (Amendment) Regulations 2008SI 2008/414) as set out in Appendix D of the report be approved.
6. That the Council’s authorised counterparty lending list as at 31st December 2020 as set out in Appendix E of the report and the rating criteria set for inclusion onto this list be approved.
7. That the Council adopts the Capital Strategy Statement set out below in section 3 of the report.
8. That in the event of the Council receiving a Capitalisation direction that requires amendments to any part of the statements, strategies or policies contained in this report that the statutory Chief finance officer (Section 151 officer) be authorised to implement those changes and to report them to the next meeting of the Cabinet and council.
Report author: Katherine Kerswell
Publication date: 02/03/2021
Date of decision: 01/03/2021
Decided at meeting: 01/03/2021 - Cabinet