Decision details

Treasury Management Strategy 2020-2021

Decision status: Deleted

Is Key decision?: Yes

Is subject to call in?: No


To approve the Treasury Management Strategy 2020-2021.


That Council be recommended to approve:


1.      The authorised borrowing limit for 2020-2021 to support the capital strategy as required under Section 3(1) of the Local Government Act 2003 be set at £1,136.6 million (PI3, Appendix 3 to the report); the forecast borrowing is below the authorised borrowing limit.


2.      The Treasury Management Strategy Statement 2020-2021 as set out in Appendix 1 to the report.


3.      The Annual Investment Strategy 2020-2021 as set out in Appendix 2 to the report.


4.      The Prudential and Treasury Management Indicators as set out in Appendix 3 to the report.


5.      The Annual Minimum Revenue Provision (MRP) Statement setting out the method used to calculate MRP for 2020-2021 as set out in Appendix 4 to the report.


6.      The Treasury Management Policy Statement and Treasury Management Practices as set out in Appendix 6 to the report.


7.      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 would be reported to the Cabinet Member for Resources and Cabinet (Resources) Panel as appropriate.


That Cabinet approve:


1.      That authority be delegated to the Cabinet Member for Resources in consultation with the Director of Finance to progress feasibility and investment propositions in a timely manner. Updates on any propositions would be provided to Cabinet or Cabinet (Resources) Panel in future reports. 


That Council be asked to note:


1.      That the authorised borrowing limit recommended in the report includes an increase of £5.0 million which has arisen due to changes in accounting treatment of leases.


2.      That the MRP charge for the financial year 2020-2021 will be £17.9 million; it is forecast to increase to £20.9 million in 2021-2022 (paragraph 2.13 of the report).


3.      That Cabinet or Cabinet (Resources) Panel and Council would receive regular Treasury Management reports during 2020-2021 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 2.11 and Appendices 2 and 3 to the report.



Report author: Karen Eaton

Publication date: 20/02/2020

Date of decision: 19/02/2020

Decided at meeting: 19/02/2020 - Cabinet

Accompanying Documents: