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Issue - meetings

Treasury Management Strategy 2012-13

Meeting: 15/02/2012 - Cabinet (Item 33)

33 Treasury Management Strategy 2012-13

Report of the Chief Finance Officer is circulated





Supporting documents:


Councillor John Brady, Cabinet Member for Finance, Performance and Risk, presented a report which presented the Treasury Management Strategy for 2012-13 including:


a)    The Prudential and Treasury Indicators (Prls and Trls) for the next three years;

b)    Other debt management decisions required for 2012-13 that do not feature within the Prls or Trls; and

c)    The Annual Investment Strategy for 2012-13.




To recommend that the Council:


a)    adopt the Prudential and Treasury Indicators (Appendix A);

b)   adopt the Annual Investment Strategy and approve the changes in the Strategy, resulting from the replacement of Fitch Ratings individual credit ratings with new bank viability ratings (Appendix B, paragraph 22) and the updated guidance on the determination of the maturity of LOBO loans (a detailed explanation is shown below in paragraphs 21 to 24 of this report);

c)    delegate to the Chief Finance Officer the authority to vary the amount of borrowing and other long term liabilities within both the Treasury Indicators for the Authorised Limit and the Operational Boundary;

d)   authorise the Chief Finance Officer to agree the restructuring of existing long-term loans where savings are achievable or to enhance the long term portfolio;

e)    agree that short term cash surpluses and deficits continue to be managed through temporary loans and deposits; and

f)     agree that any long term surplus cash balances not required to cover borrowing are placed in authorised money-market funds, particularly where this is more cost effective than short term deposits and delegate to the Chief Finance Officer the authority to select such funds.


Reason for Decision


To enable the Council to agree a Treasury Management Strategy for 2012-13 and set Prudential Indicators that comply with statutory guidance and reflect best practice.





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