Decision details

That Council:

a)            Adopt the Minimum Revenue Provision Policy (paragraph 32 – 34);

b)            Adopt the Prudential and Treasury Indicators (paragraphs 24 – 31, 40 – 49 and Appendix A);

c)            Adopt the Annual Investment Strategy (paragraph 77 onwards), including the ratification of the adjustment of the minimum requirement for high credit quality, the limits for certain counterparties and the ability to invest in the CCLA property fund;

d)            Delegate to the Director of Finance and Procurement the authority to vary the amount of borrowing and other long-term liabilities within the Treasury Indicators for the Authorised Limit and the Operational Boundary;

e)            Authorise the Director of Finance and Procurement to agree the restructuring of existing long-term loans where savings are achievable or to enhance the long-term portfolio;

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

g)            Agree that any 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 Interim Director of Finance and Procurement the authority to select such funds.