Decision Maker: Strategy and Resources Committee, Policy Development Committee, Council
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: No
The Committee considered a report by the Chief Financial Officer (circulated previously) regarding the Treasury Management Strategy Statement 2020-21.
The Head of Resources highlighted the following:
· The Council was required to receive and approve three reports each year which included: Prudential and treasury indicators and treasury strategy (first report), Mid Year Treasury Management report (second report) and an Annual Treasury report (third report).
· The Council’s investment priorities were security of funds first, portfolio liquidity second and then yield, (return).
· The Capital Prudential Indicators 2020-21 to 2022-23 as detailed in paragraph 5.1.
· The Council’s Capital Financing Requirement projections as detailed in paragraph 5.2.
· Core funds and expected investment balances as detailed in paragraph 5.3.
· Minimum revenue provision (MRP) policy statement as detailed in paragraph 5.5. The MRP was based on the estimated life of the assets in accordance with the regulations.
· Current portfolio position and borrowing levels would increase as detailed in paragraph 6.1. No difficulties were envisaged in the repayment of borrowing.
· Treasury indicators limits to borrowing activity and the operational boundary as detailed in paragraph 6.2.
· The majority of investment returns were short-term.
· Appendix B would be superseded by the Commercialisation Strategy when this comes forward.
· Economic background as detailed in Appendix C.
RECOMMENDED that the Treasury Management Strategy Statement, Minimum Revenue Provision Policy Statement and Annual Investment Statement 2020/2021, including the Treasury Management and Prudential Indicators for 2020/21 to 2022/23, be approved.
Report author: Jon Triggs
Publication date: 13/02/2020
Date of decision: 03/02/2020
Decided at meeting: 03/02/2020 - Strategy and Resources Committee