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Issue - meetings

Treasury Management Strategy 2017-18

Meeting: 07/02/2017 - Cabinet (Item 20)

20 Treasury Management Strategy 2017-18

 Report by Carolyn Godfrey, Corporate Director

Supporting documents:

Minutes:

Councillor Dick Tonge presented the report which requested Cabinet to consider and recommend that the Council approve the Prudential and Treasury Indicators, together with the Treasury Management Strategy for 2017/2018. In presenting the report, Councillor Tonge explained that the Icelandic bank debt had fallen to the point where it was now being dealt with as part of the normal debtors processes.

 

In response to a question from Councillor Glenis Ansell, the s151 Officer confirmed that the local authorities did not have a separate credit rating.

 

Resolved

 

To recommend that the Council:

 

a)           adopt the Prudential and Treasury Indicators (Appendix A) of the report presented.

 

b)        adopt the Annual Investment Strategy (Appendix B) of the report presented.

 

c)      delegate to the Associate Director, Finance 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 Associate Director, Finance 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 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 Associate Director, Finance the authority to select such funds.

 

Reason for Decisions

 

To enable the Council to agree a Treasury Management Strategy for 2017/2018 and set Prudential Indicators that comply with statutory guidance and reflect best practice.

 

 

Councillor John Thomson, Deputy Leader in the Chair


 

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