Issue - meetings

Report by Dr Carlton Brand, Corporate Director

At the invitation of the Chairman, the Cabinet Member for Finance, Councillor Philip Whitehead, presented report which sought approval for the Prudential and Treasury Indicators, together with the Treasury Management Strategy for 2018/2019.

Councillor Philip Whitehead proposed, duly seconded by the Leader, that the recommendations in the report be adopted.

Resolved

1.    To adopt the Minimum Revenue Provision Policy as set out at paragraph 46;

2.    To adopt the Prudential and Treasury Indicators (Appendix A); and

3.    To adopt the Annual Investment Strategy (Appendix B), including the ratification of the removal of the minimum requirement for high credit quality relating to viability ratings

Admin Note: A record of the vote is appended to these minutes.

Report byDr Carlton Brand,Corporate Director

Councillor Philip Whitehead presented the report which asked the Cabinet to consider and recommend that the Council approve the Prudential and Treasury Indicators, together with the Treasury Management Strategy for 2018/2019. In presenting the report, Councillor Whitehead highlighted: the statutory indicators and decisions that need to be identified in the strategy; the amendments proposed in the strategy this year; the activities that are covered by the strategy; and outlined the council’s developing approach to risk.

There being no further comments, the Cabinet;

Resolved

To recommend to Council to:

a)    Adopt the Minimum Revenue Provision Policy as set out at paragraph 46;

b)    Adopt the Prudential and Treasury Indicators (Appendix A);

c)    Adopt the Annual Investment Strategy (Appendix B), including the ratification of the removal of the minimum requirement for high credit quality relating to viability ratings;

d)    Delegate to the Director of Finance 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 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; and

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 Director of Finance the authority to select such funds.

Reason for Decision:

Reason for Decision:

To enable the Council to agree a Treasury Management Strategy for 2018/2019 and set Prudential Indicators that comply with statutory guidance and reflect best practice.