Issue - meetings

Report of the Strategic Director of Housing and Customer Services

Presented by the Corporate Portfolio Holder

The Head of Finance presented the report to Members.

She advised that the strategy was related to how the Council invested its surplus cash which was available as a result of day to day activities, and   it complied with statutory, regulatory and professional requirements.  The strategy retained the flexibility for the Council to invest in a range of asset classes and the covering report set out the ways to diversify further into different asset classes to achieve a higher yield.  This was one of the ways that savings would be delivered under the Journey to Self-Sufficiency Programme.

Members were referred to the table at paragraph 10.1 of the report which projected the Council’s treasury position to 2025, aligned with the Council’s budgets and Medium Term Financial Plan.

Councillor R Blunt thanked the Head of Finance and her team for the work undertaken on the budget proposals and financial planning.  

It was moved by Councillor R Blunt, seconded by Councillor R D Bayliss and

RECOMMENDED TO COUNCIL THAT:

The Treasury Management Strategy Statement 2020/21, the Treasury Management Prudential Indicators – Revised 2019/20 and 2020/21 – 2022/23, and the Annual Minimum Revenue Provision be approved.

Reason for decision: To meet the requirement of the Chartered Institute of Public Finance and Accountancy’s ‘Treasury Management in the Public Services Code of Practice’ 2017 Edition (the CIPFCA Code).