Decision details

Treasury Management Strategy 2017/18

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Decision:

That Council be recommended to:

1.    Approve the authorised borrowing limit for 2017/18 as required under Section 3(1) of the Local Government Act 2003 be set at £1,024.1 million (PI 5, appendix C).

2.    Approve the Treasury Management Strategy Statement 2017/18 as set out in appendix A to this report.

3.    Approve the Annual Investment Strategy 2017/18 as set out in appendix B to this report.

4.    Approve the Prudential and Treasury Management Indicators as set out in appendix C to this report.

5.    Approve the Annual Minimum Revenue Provision (MRP) Statement setting out the method used to calculate MRP for 2017/18 onwards as set out in appendix D to this report.

6.    Approve the Treasury Management Policy Statement and Treasury Management Practices as set out in appendix F to this report.

7.    Approve that authority continues to be delegated to the Director of Finance to amend the Treasury Management Policy and Practices and any corresponding changes required to the Treasury Management Strategy, the Prudential and Treasury Management Indicators, the Investment Strategy and the Annual MRP Statement to ensure they remain aligned. Any amendments will be reported to the Cabinet Member for Resources and Cabinet (Resources) Panel as appropriate.

8.    Note that, as a result of the changes to the MRP policy approved and implemented during 2014/15, the MRP charge for financial year 2017/18 will be zero increasing to £8.2 million in 2018/19 (paragraph 2.10).

9.    Note that Cabinet (Resources) Panel and Council will receive regular Treasury Management reports during 2017/18 on performance against the key targets and Prudential and Treasury Management Indicators in the Treasury Management Strategy and Investment Strategy as set out in paragraph 2.8 and appendices B and C to this report.

 

1.    That it be noted, the financial information included in this report is based on the ‘Capital programme 2016/17 to 2020/21 quarter three review and 2017/18 to 2021/22 budget strategy’ report also on the agenda for this meeting. The capital report is subject to a number of reports being separately approved by Cabinet (Resources) Panel on 28 February 2017. Therefore, if these approvals are not obtained, a revised version of this report will be presented to Council on 1 March 2017.

 

Publication date: 24/02/2017

Date of decision: 22/02/2017

Decided at meeting: 22/02/2017 - Cabinet

Accompanying Documents: