66 Treasury Management Strategy Statement 2018/19 (Minute EXB 112 refers) PDF 658 KB
Executive Board considered the attached report.
RECOMMENDED: That Council adopt the policies, strategies, statements,
prudential and treasury indicators outlined in the report.
Minutes:
The Council considered a report of the Operational Director, Finance, on the Treasury Management Strategy Statement, which incorporated the Annual Investment Strategy and the Minimum Revenue Provision Strategy for 2018/19.
RESOLVED: That Council adopt the policies, strategies,
statements, prudential and treasury indicators, outlined in the report.
112 Treasury Management Strategy Statement 2018/19 PDF 658 KB
Minutes:
The Board considered a report of the Operational Director, Finance,
proposing the Treasury Management Strategy Statement (TMSS) which incorporated
the Annual Investment Strategy (AIS) and the Minimum Revenue Provision (MRP)
Strategy for 2018/19.
The TMSS was attached to the report and detailed the expected activities
of the treasury function in the forthcoming financial year (2018/19).
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.
It was noted that on 10 November 2017, the Ministry of Housing
Communities and Local Government had issued a consultation on “Proposed Changes
to the Prudential Framework of Capital Finance”, which suggested future changes
to the Prudential Code. However, nothing further had been issued and therefore
the Treasury management Statement had been written in line with the previous
year’s Prudential Code.
Members noted that the provision of a Minimum Revenue Provision Policy
Statement was required and a formal statement for approval was contained within
the report at paragraph 2.3, with Appendix A detailing the full policy.
RESOLVED: That Council be recommended to adopt the policies,
strategies, statements, prudential and treasury indicators outlined in the
report.