Issue - meetings

Report of Councillor Giles on behalf of the Cabinet.

The Chair of the Council, Councillor Gauntlet, moved and Councillor Catlin seconded the motion that the recommendation of the Cabinet held on 11 February 2019 relating to minute 61 (Annual treasury management strategy statement and investment strategy 2019-2020 to 2020-2021) be received and adopted.

The motion was put to the meeting and Declared Carried.

Resolved:

1)         To approve the treasury management strategy and annual investment strategy as set out in the Cabinet report and at appendix 5 to the Cabinet report.

2)         To approve the methodology for calculating the minimum revenue provision as set out at paragraph 2.3 of the Cabinet report and at appendix 2 to the Cabinet report.

3)         To approve the prudential and treasury indicators as set out in the Cabinet report.

4)         To approve the investment categories, limits and creditworthiness policy, set out at appendix 6 to the Cabinet report; and

5)         To approve the Capital Strategy as set out at appendix 1 to the Cabinet report.

Report of Chief Finance Officer

Lead Cabinet member: Councillor Bill Giles

(Non-key decision):

(1) To note the extended role of the Chief Finance Officer as set out at appendix 7 to the report.

Recommended to Council (Budget and policy framework):

(2) To approve the treasury management strategy and annual investment strategy as set out in the report and at appendix 5 to the report.

(3) To approve the methodology for calculating the minimum revenue provision as set out at paragraph 2.3 of the report and at appendix 2 to the report

(4) To approve the prudential and treasury indicators as set out in the report.

(5) To approve the investment categories, limits and creditworthiness policy, set out at appendix 6 to the report.

(6) To approve the Capital Strategy as set out at appendix 1 to the report.

The Cabinet considered the report of the Chief Finance Officer, regarding the Council’s annual treasury management strategy, capital strategy and investment strategy, in addition to the treasury and prudential indicators for the next financial year.

The council’s borrowing and investment activity had been compliant with the regulations and there had been no breach of policy.

Councillor Merry clarified that the figures in table 7 at 4.2.4 should be displayed the other way around.

Councillor Nicholson added that newly elected and re-elected Councillors would receive appropriate training on the subject as part of the member induction programme.

Resolved (Non-key decision):

(1) To note the extended role of the Chief Finance Officer as set out at appendix 7 to the report.

Recommended to Council (Budget and policy framework):

(2) To approve the treasury management strategy and annual investment strategy as set out in the report and at appendix 5 to the report.

(3) To approve the methodology for calculating the minimum revenue provision as set out at paragraph 2.3 of the report and at appendix 2 to the report.

(4) To approve the prudential and treasury indicators as set out in the report.

(5) To approve the investment categories, limits and creditworthiness policy, set out at appendix 6 to the report.

(6) To approve the Capital Strategy as set out at appendix 1 to the report.

Reason for decisions:

It is a requirement of the budget setting process for the Council to review and approve the Prudential and Treasury indicators, Treasury Strategy, Capital Strategy and Investment Strategy.