Issue - meetings

This reports sets out the updated Treasury Management Strategy Statement 2017/18 to 2019/20.

The Committee approved:

a)            The Capital Prudential Indicators and Limits for 2017/18 to 2019/20 contained within the Treasury Management Strategy Statement (Sections 2 and 5);

b)            the Treasury Management Statement 2017/18 to 2019/20 and the Treasury Prudential Indicators contained within it (Section 3);

c)            the Borrowing Strategy contained within the Treasury Management Statement (Section 3);

d)            the Investment Strategy 2017/18 contained within the Treasury Management Strategy Statement (Section 4), including changes to counterparty limits;

e)            the Minimum Revenue Provision (MRP) Policy Statement contained within the Treasury Management Strategy Statement (Section 5);

f)             the treasury management practices as set out in Section 7 of the Treasury Management Statement; and

g)            Recommended to Council the adoption of the updated Treasury Management Statement 2017/18 to 2019/20.

A report was presented to the Committee which set out the updated Treasury Management Strategy Statement 2017/18 to 2019/20.

The following points were noted:

·                     the Financial Policy Panel would continue to received presentations from the Council’s Fund Managers but further training could be arranged as required;

·                     the Council always worked to the best advice available at any given time in relation to interest rates and inflation. Investments were generally short term to take account of the volatility in the market;

·                     the Council was very unlikely to invest in shares but this option was included in the Strategy to provide maximum flexibility in terms of available options. Officers would seek further approval if considering going down this route;

·                     the Council was approaching the point at which it would need to consider how it would finance its capital programme in future;

·                     The Municipal Bond Agency would be a new source of borrowing which the Council intended to make use of as and when appropriate as it was anticipated that its borrowing rates would be very competitive.  Existing loans could not be transferred to this body.

Accordingly, the Committee approved:

(1)          The Capital Prudential Indicators and Limits for 2017/18 to 2019/20 contained within the Treasury Management Strategy Statement (Sections 2 and 5);

(2)          the Treasury Management Statement 2017/18 to 2019/20 and the Treasury Prudential Indicators contained within it (Section 3);

(3)          the Borrowing Strategy contained within the Treasury Management Statement (Section 3);

(4)          the Investment Strategy 2017/18 contained within the Treasury Management Strategy Statement (Section 4), including changes to counterparty limits;

(5)          the Minimum Revenue Provision (MRP) Policy Statement contained within the Treasury Management Strategy Statement (Section 5);

(6)          the treasury management practices as set out in Section 7 of the Treasury Management Statement; and

(7)          Recommended to Council the adoption of the updated Treasury Management Statement 2017/18 to 2019/20.