Issue - meetings

Executive Board considered the attached report.

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

            The Council considered a report of the Operational Director, Finance, on the Treasury Management Statement, which incorporated the Annual Investment Strategy and the Minimum Revenue Provision Strategy for 2022/23.

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

The Board received the Treasury Management Strategy Statement, (TMSS) which incorporated the Annual Investment Strategy (AIS) and the Minimum Revenue Provision (MRP) Strategy for 2022/23.

The TMSS was appended to the report and detailed the expected activities of the treasury function in the forthcoming financial year (2022/23).  Its production and submission to Council was a requirement of the CIPFA Prudential Code and the CIPFA Treasury Management Code.

            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 and to prepare an Annual Investment Strategy (AIS), which set out the Council’s policies for managing its investments and for giving priority to the security and liquidity of those investments.  Government guidance notes stated that authorities could combine the TMSS and the AIS into one report, which the Council had done and was included in Section 4.

            Members noted that the production 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 the full policy shown in Appendix A.

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