The Head of Financial Services will submit a report to the City Executive Board on 11 February which presents the Council’s Treasury Management strategy for 2016-17 together with the prudential indicators for 2016-17 to 1018-219

The draft minutes of the Board will be circulated with the briefing note.

The Leader will move the recommendations and the Head of Financial Services will be available to answer questions.

The published agenda for the City Executive Board contains recommendations that Council:

1.    approve the Treasury Management Strategy 2016-17 and adopt the prudential indicators for 2016-17 – 2018-19 as set out in paragraphs 7 to 41 and Appendix 2 of the report;

2.    approve the investment strategy for 2016-17 and investment criteria as set out in paragraphs 21 to 38 and Appendix 1 of the report; and

3.    approve the minimum revenue provision (MRP) statement at paragraphs 11 to 20 of the report which sets out the Council’s policy on debt and repayment.

The City Executive Board will consider these and may make these or alternative recommendations to Council.

Recommendations: Council is askedto agree the recommendations of the City Executive Board on 11 February, published in the draft minutes of that meeting.

Council considered a report to the City Executive Board on 11 February 2015 which presents the Council’s Treasury Management strategy for 2016-17 together with the prudential indicators for 2016-17 to 2018-19 and the draft minutes of that meeting.

Council resolved to:

1.    approve the Treasury Management Strategy 2016-17 and adopt the prudential indicators for 2016-17 – 2018-19 as set out in paragraphs 7 to 41 and Appendix 2 of the report submitted to the City Executive Board;

2.    approve the investment strategy for 2016-17 and investment criteria as set out in paragraphs 21 to 38 and Appendix 1 of the report submitted to the City Executive Board; and

3.    approve the minimum revenue provision (MRP) statement at paragraphs 11 to 20 of the report submitted to the City Executive Board which sets out the Council’s policy on debt and repayment.

The Head of Financial Services has submitted a report which presents the Council’s Treasury Management Strategy for 2016/17 together with the Prudential Indicators for 2016/17 to 2018/19.

Recommendations: That the City Executive Board resolves to recommend that Council resolves to:

1.            Approve the Treasury Management Strategy 2016/17, and adopt the Prudential Indicators for 2016/17 – 2018/19 as set out in paragraphs 7 to 41, and Appendix 2;

2.            Approve the Investment Strategy for 2016/17 and investment criteria as set out in paragraphs 21 to 38 and Appendix 1; and

3.            Approve the Minimum Revenue Provision (MRP) Statement at paragraphs 11 to 20 which sets out the Council’s policy on debt repayment.

The Head of Financial Services submitted a report which presented the Council’s Treasury Management Strategy for 2016/17 together with the Prudential Indicators for 2016/17 to 2018/19.

The Executive Board Member, Finance, Asset Management and Public Health presented the report and said that he was pleased to accept both the Scrutiny recommendations.

The Board discussed the uncertainty surrounding interest rate projections and noted that on an operational basis the officers were proactively looking for the best possible return on investment.

The City Executive Board resolved to recommend that Council resolves to:

1.            Approve the Treasury Management Strategy 2016/17, and adopt the Prudential Indicators for 2016/17 – 2018/19 as set out in paragraphs 7 to 41, and Appendix 2;

2.            Approve the Investment Strategy for 2016/17 and investment criteria as set out in paragraphs 21 to 38 and Appendix 1; and

3.            Approve the Minimum Revenue Provision (MRP) Statement at paragraphs 11 to 20 which sets out the Council’s policy on debt repayment.

Invited:

Nigel Kennedy – Head of Financial Services

Anna Winship – Management Accountancy Manager

For the Finance Panel to pre-scrutinise the Treasury Management Strategy, Annual Report and Performance 2016/17.  This is an opportunity for the Panel to make recommendations to the City Executive Board.