Issue - meetings

Matter for Decision 

The Council is required to receive and approve, as a minimum, three main treasury management reports each year.

 

The first and most important is the Treasury Management Strategy (this report), which covers:

 

•        capital plans (including prudential indicators);

•        a Minimum Revenue Provision policy which explains how unfinanced capital expenditure will be charged to revenue over time;

•        the Treasury Management Strategy (how investments and borrowings are to be organised) including treasury indicators; and

•        a Treasury Management Investment Strategy (the parameters on how investments are to be managed).

 

A mid-year treasury management report is produced to update Members on the progress of the capital position, amending prudential indicators as necessary, and advising if any policies require revision.

 

The Outturn or Annual Report compares actual performance to the estimates in the Strategy.

 

The statutory framework for the prudential system under which local government operates is set out in the Local Government Act 2003 and Capital Financing and Accounting Statutory Instruments. The framework incorporates four statutory codes. These are:

 

•        the Prudential Code (2017 edition) prepared by CIPFA;

•        the Treasury Management Code (2017 edition) prepared by CIPFA;

•        the Statutory Guidance on Local Authority Investments prepared by Ministry of Housing, Communities and Local Government (MHCLG) (effective 1 April 2018); and

•        the Statutory Guidance on Minimum Revenue Provision prepared by MHCLG (effective 1 April 2019).

 

Decision of the Executive Councillor for Finance and Resources

 

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 made the following comment in response to the report:

i.               Did not have any concerns with the borrowing limits and thought that the council should be able to manage the level of debt.

 

The Committee unanimously resolved to endorse the recommendations.

 

The Executive Councillor approved the recommendations.

  

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

No conflicts of interest were declared by the Executive Councillor.