The Head of Financial Services has submitted a report to Cabinet on 09 February 2022 which presents the Council’s Treasury Management Strategy for 2022/23 together with the Prudential Indicators for 2022/23 to 2025/26.

The Cabinet decisions will be reported in the briefing note.

Councillor Ed Turner, Cabinet Member for Finance and Asset Management, will present the report and propose Cabinet’s recommendations.

Recommendations: Cabinet recommends subject to decisions taken at the Cabinet meeting on 09 February that Council resolves to approve:

1.    The Treasury Management Strategy 2022/23 as set out in paragraphs 22 to 63 of this report and the Prudential Indicators for 2022/23 – 2025/26 as set out in Appendix 2;

2.    The Borrowing Strategy 2022/23 at paragraphs 38 to 40 of this report;

3.    The Minimum Revenue Provision (MRP) Statement at paragraphs 41 to 43 which sets out the Council’s policy on charging borrowing to the revenue account; and

4.    The Investment Strategy for 2022/23 and the investment criteria as set out in paragraphs 44 to 62 of this report and in Appendix 1.

Council considered the report of the Head of Financial Services, submitted to Cabinet on 09 February 2022, presenting the proposed Treasury Management Strategy for 2022/23 together with the Prudential Indicators for 2022/23 to 2025/26.

Cllr Turner, Cabinet Member for Finance and Asset Management, presented the report and moved the recommendations, which were agreed on being seconded and put to the vote.

Council resolved to approve:

1.    The Treasury Management Strategy 2022/23 as set out in paragraphs 22 to 63 of this report and the Prudential Indicators for 2022/23 – 2025/26 as set out in Appendix 2;

2.    The Borrowing Strategy 2022/23 at paragraphs 38 to 40 of this report;

3.    The Minimum Revenue Provision (MRP) Statement at paragraphs 41 to 43 which sets out the Council’s policy on charging borrowing to the revenue account; and

4.    The Investment Strategy for 2022/23 and the investment criteria as set out in paragraphs 44 to 62 of this report and in Appendix 1.

The Head of Financial Services has submitted a report which presents the Council’s Treasury Management Strategy for 2022/23 together with the Prudential Indicators for 2022/23 to 2025/26.

Cabinet is recommended to:

1. Recommend that Council approves:

1.    The Treasury Management Strategy 2022/23 as set out in paragraphs 22 to 63 of this report and the Prudential Indicators for 2022/23 – 2025/26 as set out in Appendix 2;

2.    The Borrowing Strategy 2022/23 at paragraphs 38 to 40 of this report;

3.    The Minimum Revenue Provision (MRP) Statement at paragraphs 41 to 43 which sets out the Council’s policy on charging borrowing to the revenue account; and

4.    The Investment Strategy for 2022/23 and the investment criteria as set out in paragraphs 44 to 62 of this report and in Appendix 1.

The Head of Financial Strategy had submitted a report which presented the Council’s Treasury Management Strategy for 2022/23 together with the Prudential Indicators for 2022/23 – 2025/26.

Councillor Ed Turner, Deputy Leader (Statutory) – Finance and Asset Management reported that it was proposed to maintain limitations on non-specified investments as currently.  Some changes had been made to the Strategy in order to align with revised Cipfa and government guidance.  Additionally, a new Environmental, Social and Governance Policy had been added.  The Council’s Treasury Management advisors would be providing information on risk ratings for counterparties with which the Council wanted to invest.

Although there was no change to the Minimum Revenue Provision (MRP) in 2022/23 it was subject to recent Government consultation, meaning that future changes were possible.

Cabinet resolved to:

1. Recommend that Council approves:

1.    The Treasury Management Strategy 2022/23 as set out in paragraphs 22 to 63 of the report and the Prudential Indicators for 2022/23 – 2025/26 as set out in Appendix 2;

2.    The Borrowing Strategy 2022/23 at paragraphs 38 to 40 of the report;

3.    The Minimum Revenue Provision (MRP) Statement at paragraphs 41 to 43 of the report which sets out the Council’s policy on charging borrowing to the revenue account; and

4.    The Investment Strategy for 2022/23 and the investment criteria as set out in paragraphs 44 to 62 of the report and in Appendix 1.