Issue - meetings

Report of the Service Director Finance seeking approval of the Council’s Treasury Management Strategy and Prudential Limits 2021/22 to 2024/25.

The Committee considered the report of the Service Director Finance (S151 Officer) seeking approval of the Treasury Management Strategy and Prudential Limits 2021/22 to 2024/25. 

The Committee particularly noted paragraph 10 of the report which detailed the core elements of the strategy.  In addition, the Committee stated that it would be helpful if information regarding the economic outlook could be more timely, as it rapidly became out of date during a national lockdown situation.

RESOLVED:

(i)  That the Council’s Treasury Management (TM) Strategy and Indicators for 2021/22 to 2024/25, 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 2021/22 to 2024/25 report, to be submitted to Council on the 24 February 2021, would be approved.  Should the recommendations change and have any impact on the Prudential Indicators this would be reported to Council on 24 February 2021;

(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; and

(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.