Councillor Tidball left the meeting during the debate on this item.

Council considered the report of the Head of Financial Services, submitted to Cabinet on 12 February 2020, presenting the proposed Treasury Management Strategy for 2020/21 together with the Prudential Indicators for 2020/21 to 2024/25.

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

Council resolved to approve:

1.     the Treasury Management Strategy 2020/21 as set out in paragraphs 18 to 64 and the Prudential Indicators for 2020/21 – 2024/25 as set out in Appendix 2 of the report;

2.     the Borrowing Strategy at paragraphs 26 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 2020/21 and investment criteria as set out in paragraphs 42 to 63 and Appendix 1 of the report.