The Head of Financial Services submitted a report to the City Executive Board on 13 February which presents the Treasury Management Strategy 2018/19 together with the Prudential Indicators for 2018/19 to 2021/22 for referral to Council.

The Board Member for Finance and Asset Management will move the recommendations and the Head of Financial Services will be available to answer questions.

Recommendations: the City Executive Board recommends that Council approves:

1.    The Treasury Management Strategy 2018/19 as set out in paragraphs 7 to 43 and the Prudential Indicators for 2018/19 – 2021/22 as set out in Appendix 2 of the report;

2.    The Borrowing Strategy at paragraphs 12 to 22 of the report;

3.    The Minimum Revenue Provision (MRP) Statement at paragraphs 23 to 24 of the report  which sets out the Council’s policy on charging borrowing to the revenue account; and

4.    The Investment Strategy for 2018/19 and investment criteria as set out in paragraphs 25 to 39 and Appendix 1 of the report.

Council considered a report submitted to the City Executive Board on 13 February setting out the Council’s Treasury Management Strategy together with the Prudential Indicators.

Councillor Turner moved and Councillor Brown seconded the recommendations.

Council resolved to:

1.    approve the Treasury Management Strategy 2018/19 as set out in paragraphs 7 to 43 and the Prudential Indicators for 2018/19 – 2021/22 as set out in Appendix 2 of the report;

2.    approve the Borrowing Strategy at paragraphs 12 to 22 of the report;

3.    approve the Minimum Revenue Provision (MRP) Statement at paragraphs 23 to 24 of the report  which sets out the Council’s policy on charging borrowing to the revenue account; and

4.    approve the Investment Strategy for 2018/19 and investment criteria as set out in paragraphs 25 to 39 and Appendix 1 of the report.

The Head of Financial Services has submitted a report which presents the Treasury Management Strategy 2018/19 together with the Prudential Indicators for 2018/19 to 2021/22 for referral to Council.

Recommendation:

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

1.     The Treasury Management Strategy 2018/19 as set out in paragraphs 7 to 43 and the Prudential Indicators for 2018/19 – 2021/22 as set out in Appendix 2;

2.     The Borrowing Strategy at paragraphs 12 to 22;

3.     The Minimum Revenue Provision (MRP) Statement at paragraphs 23 to 24 which sets out the Council’s policy on charging borrowing to the revenue account; and

4.     The Investment Strategy for 2018/19 and investment criteria as set out in paragraphs 25 to 39 and Appendix 1.

The Head of Financial Services had submitted a report which presented the Treasury Management Strategy 2018/19 together with the Prudential Indicators for 2018/19 to 2021/22 for referral to Council.

Cllr Turner, Board Member for Finance and Asset Management, spoke briefly to the  annual report noting that its contents and format were to large extent driven by CIPFA requirements which did not always result in an elegant read. He drew attention to the few proposed changes, some of which were due to changes in CIPFA’s Treasury Management Code of Practice. He noted that, where possible,  investments were sought which would be beneficial to the City in their own right and not just financially.

The City Executive Board resolved to recommend that Council approves:

1.     The Treasury Management Strategy 2018/19 as set out in paragraphs 7 to 43 and the Prudential Indicators for 2018/19 – 2021/22 as set out in Appendix 2;

2.     The Borrowing Strategy at paragraphs 12 to 22;

3.     The Minimum Revenue Provision (MRP) Statement at paragraphs 23 to 24 which sets out the Council’s policy on charging borrowing to the revenue account; and

4.     The Investment Strategy for 2018/19 and investment criteria as set out in paragraphs 25 to 39 and Appendix 1.