Issue - meetings

Matter for Decision

The Council is required by regulations issued under the Local Government Act 2003, to produce a Treasury Management, Investment and Capital Strategy.

CIPFA had recently consulted on changes to the Prudential Code and the Treasury Management Code. The most notable of these changes  was  the  requirement  to  produce  an  annual  Capital  Strategy which was provided at Appendix A to the report.

The  DCLG  have  also  consulted  on  changes  to  the  Investment Guidance and Minimum Revenue Provision Guidance and the consultation  closed  on  22  December. The revised guidance is expected to be issued early in 2018 and to apply for financial years commencing on or after 1 April 2018.  The report therefore reflected the new requirements.  The most notable change was the requirement to expand the Investment Strategy to non-financial assets such as investments in property.

Decision of Executive Councillor for Finance and Resources agreed:

     i.        To recommend the report to Council including the estimated Prudential & Treasury Indicators for 2017/18 to 2020/21, inclusive, as set out in Appendix D.

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.

The Committee referred to the Non-Financial Asset Performance Indicators and asked whether the assets in the Cambridge Housing Company or Mill Road Depot were included.

The Head of Finance said the following in response to the  question:

     i.        Confirmed that the Cambridge City Housing Company Limited (CCHC) was not encompassed within the Non-Financial Asset Performance Indicators but the current loan given to the CCHC by the council was included in it. The loan needed for the development phase of Mill Road Depot development was also included within it but has not yet been transferred.

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.