The Head of Financial Services submitted a report to Cabinet on 10 February 2021 to present the Council’s Treasury Management Strategy for 2021/22 together with the Prudential Indicators for 2021/22 to 2024/25.

The Cabinet decisions will be reported in the briefing note. Cllr Turner, the Cabinet Member for Finance and Asset Management, will present the report and propose Cabinet’s recommendations.

Recommendations: Cabinet recommends subject to decisions at their meeting on 10 February that Council resolves to approve:

1.     The Treasury Management Strategy 2021/22 as set out in paragraphs 19 to 62 and the Prudential Indicators for 2021/22 – 2024/25 as set out in Appendix 2 of the report;

2.     The Borrowing Strategy at paragraphs 27 to 38 of the report;

3.     The Minimum Revenue Provision (MRP) Statement at paragraphs 39 to 41 of the report which sets out the Council’s policy on charging borrowing to the revenue account; and

4.     The Investment Strategy for 2021/22 and investment criteria as set out in paragraphs 42 to 62 and Appendix 1 of the report.

Council considered the report of the Head of Financial Services presenting the Council’s Treasury Management Strategy for 2021/22 together with the Prudential Indicators for 2021/22 to 2024/25.

Cllr Turner, the Cabinet Member for Finance and Asset Management, introduced the report, proposed the recommendations and answered questions.

The recommendations were agreed on being seconded and put to the vote.

Council resolved to approve:

1.     The Treasury Management Strategy 2021/22 as set out in paragraphs 19 to 62 and the Prudential Indicators for 2021/22 – 2024/25 as set out in Appendix 2 of the report;

2.     The Borrowing Strategy at paragraphs 27 to 38 of the report;

3.     The Minimum Revenue Provision (MRP) Statement at paragraphs 39 to 41 of the report which sets out the Council’s policy on charging borrowing to the revenue account; and

4.     The Investment Strategy for 2021/22 and investment criteria as set out in paragraphs 42 to 62 and Appendix 1 of the report.

The Head of Financial Services has submitted a report to present the Council’s Treasury Management Strategy for 2021/22 together with the Prudential Indicators for 2021/22 to 2024/25.

Recommendations:That Cabinet resolves to:

Recommend that Council approves:

1.    The Treasury Management Strategy 2021/22 as set out in paragraphs 19 to 62 and the Prudential Indicators for 2021/22 – 2024/25 as set out in Appendix 2;

2.    The Borrowing Strategy at paragraphs 27 to 38;

3.    The Minimum Revenue Provision (MRP) Statement at paragraphs 39 to 41 which sets out the Council’s policy on charging borrowing to the revenue account; and

4.    The Investment Strategy for 2021/22 and investment criteria as set out in paragraphs 42 to 62 and Appendix 1.

The Head of Financial Services had submitted a report to present the Council’s Treasury Management Strategy for 2021/22 together with the Prudential Indicators for 2021/22 to 2024/25.

Councillor Ed Turner, Cabinet Member for Finance & Asset Management, introduced the report. At a time of very low interest rates this was a challenging area but one in relation to which, at the moment, there were no proposals for change.

That Cabinet resolved to:

Recommend that Council approves:

1.    The Treasury Management Strategy 2021/22 as set out in paragraphs 19 to 62 and the Prudential Indicators for 2021/22 – 2024/25 as set out in Appendix 2;

2.    The Borrowing Strategy at paragraphs 27 to 38;

3.    The Minimum Revenue Provision (MRP) Statement at paragraphs 39 to 41 which sets out the Council’s policy on charging borrowing to the revenue account; and

4.    The Investment Strategy for 2021/22 and investment criteria as set out in paragraphs 42 to 62 and Appendix 1.