Issue - meetings

Executive Board considered a report of the Operational Director, Finance, on the Treasury Management Statement 2014/15.

RECOMMENDED: That Council adopt the policies, strategies, statements and prudential and treasury indicators as outlined in the report.

The Executive Board had considered a report which proposed the Treasury Management Strategy for 2014/15, appended to the report and which detailed the following:

·       Treasury limits in force which would limit the treasury risk and activities of the Council

·       The current treasury position

·       Prospects for interest rates

·       The borrowing strategy

·       Policy on borrowing in advance of need

·       The annual investment strategy

·       Debt rescheduling

·       Minimum Revenue Provision policy statement

·       Creditworthiness policy

·       Policy on use of external service providers

·       Treasury Indicators

·       Adopting the CIPFA Code of Practice

RESOLVED: That the policies, strategies, statements and prudential and treasury indicators outlined in the report, be adopted.

The Board considered a report of the Operational Director, Finance, proposing the Treasury Management Strategy Statement (TMSS) for 2014/15.

The TMSS was attached to the report and detailed the expected activities of the Treasury function in the forthcoming financial year (2014/15).

The Local Government Act 2003 required the Council to “have regard to” the Prudential Code and to set Prudential Indicators for the next three years to ensure that the Council’s capital investment plans were affordable, prudent and sustainable. The Act therefore required the Council to set out its Treasury Strategy for borrowing as well as an Annual Investment Strategy, which set out the Council’s policies for managing its investments and for giving priority to the security and liquidity of those investments. However, Government guidance stated that Authorities could combine the statement and the strategy into one report, and the Council had adopted this approach.

Members noted that the production of a Minimum Revenue Provision Policy Statement was required and a formal statement for approval was contained within Appendix C.

          RESOLVED: That Council be recommended to adopt the policies, strategies, statements and prudential and treasury indicators outlined in the report.