Decision details

Matter for Decision

The Council had adopted The Chartered Institute of Public Finance

and Accountancy (CIPFA) Code of Practice on Treasury Management (Revised 2011).

The Code required as a minimum receipt by full Council of an Annual Treasury Management Strategy Statement – including the Annual Investment Strategy and Minimum Revenue Provision Policy – for the year ahead, a half-year review report and an Annual Report (stewardship report) covering activities in the previous year.

The Committee were advised that Appendix A on page 61 included a typographical error:

 Average annual weekly housing rent- Shown in £’s

Decision of Executive Councillor for Finance and Resources

     i.        Recommended the report to Council, which included the Council’s estimated Prudential and Treasury Indicators 2017/18 to 2020/21.

Reason for the Decision

As set out in the Officer’s report.

Any Alternative Options Considered and Rejected

Not applicable.

Scrutiny Considerations

The Committee received a report from the Head of Finance.

Councillor Cantrill referred to the government’s possible restrictions on Local Authorities investing in commercial property with Public Works Loan Board funding. He also sought clarification on the Council’s geographical strategy.

Executive Councillor for Finance and Resources confirmed that there was £3 million left of the £20m of internal borrowing allocated for commercial. It had been difficult to find properties to spend the money on due to the high price of property in the city. The Council may decide to use it to develop existing assets in the city.

The Committee resolved by 4 votes to 0 to endorse the recommendation.

The Executive Councillor approved the recommendation.

Conflicts of Interest Declared by the Executive Councillor (and any Dispensations Granted)

No conflicts of interest were declared by the Executive Councillor.