Issue - meetings

Report of the Service Director for Finance (S151) seeking approval of the Treasury Managment Strategy & Prudential Limits 2020/21 to 2023/24, attached.

The Committee considered the report of the Service Director Finance (S151 Officer) detailing the Treasury Management Strategy and Prudential Limits 2020/21 to 2023/24.  The Committee particularly noted paragraph 10 of the report which detailed the core elements of the strategy.  In addition the Committee requested information regarding ethical frameworks for investment and pension funds which was outside the remit of Treasury Management but would be circulated to all Members outside of the meeting.

RESOLVED:

(i)  That the Council’s Treasury Management (TM) Strategy and Indicators for 2020/21 to 2023/24, as detailed in appendix 1 of the report be approved.

(ii)  That at the time of writing this report it was noted that it had been assumed that the budget proposals within the Medium Term Financial Strategy, Budget and Capital Programme 2020/21 to 2022/23 report, to be submitted to Council on the 26 February 2020, would be approved.  Should the recommendations change and have any impact on the Prudential Indicators this would be reported to Council on 26 February 2020.

(iii)  That authority continue to be delegated to the Chief Financial Officer (CFO) to approve any changes to the Prudential Indicators or borrowing limits that will aid good treasury management.  The CFO would report any amendments and in year revisions to the TM Strategy as part of quarterly financial and performance monitoring.

(iv)  That the proposal to continue to explore an alternative Treasury Strategy to generate additional income that could support local services, whilst maintaining a prudent approach be endorsed.