Treasury Management Strategy for 2017/2018, including prudential indicators.

·         The pre-consultation draft report will be submitted to CEB in December 2016.

·         The post-consultation draft report will be submitted to CEB in February 2017

·         Submitted to Council for adoption in February 2017.

The Head of Financial Services submitted a report which presented the Council’s Treasury Management Strategy for 2017/18 together with the Prudential Indicators for 2017/18 to 2019/20.

Cllr Turner, Board Member for Finance, Asset Management and Public Health presented the report.

Cllr Price asked if the Council had any investments on the stock-market. The Director for Organisational Development and Corporate Services said that the Council does not invest in stocks and shares as the risk is too great. We prefer low risk investments such as bonds in building societies but also had money invested in property funds. Until the Bank of England’s base rate increases, Council won’t see a huge change in its investment strategy.

The City Executive Board resolves to:

1.    Recommend that Council approve the Treasury Management Strategy 2017/18, and adopt the Prudential Indicators for 2017/18 – 2019/20 as set out in paragraphs 7 to 37, and Appendix 2;

2.    Recommend that Council approve the Borrowing Strategy at paragraphs 7 to 18;

3.    Recommend that Council approve the Minimum Revenue Provision (MRP) Statement at paragraphs 19 to 22 which sets out the Council’s policy on charging borrowing to the revenue account; and

4.    Recommend that Council approve the Investment Strategy for 2017/18 and investment criteria as set out in paragraphs 23 to 37 and Appendix 1.