Decision details

The Cabinet resolved to recommend the Assembly to approve the Treasury Management Strategy Statement for 2018/19 and, in doing so, to:

(i)  Note the current treasury position for 2018/19 and prospects for interest rates, as referred to in paragraph 7.2 of the report;

(ii)  Approve the Council’s Borrowing Strategy for 2018/19, incorporating the Debt Repayment Strategy and Policy on Borrowing in Advance of Need, at Appendix 2 to the report;

(iii)  Approve the Annual Investment Strategy for 2018/19, incorporating the Creditworthiness Policy and outlining the investments that the Council may use for the prudent management of its investment balances, at Appendix 1 to the report;

(iv)  Approve the Treasury Management and Prudential Indicators for 2018/19 – 2020/21, at Appendix 3 to the report;

(v)  Approve the Minimum Revenue Provision Policy Statement for 2018/19, representing the Council’s policy on repayment of debt, at Appendix 4 to the report;

(vi)  Approve the Operational Boundary Limit of £1.002bn and the Authorised Borrowing Limit of £1.102bn for 2018/19, representing the statutory limit determined by the Council pursuant to section 3(1) of the Local Government Act 2003, as referred to in Appendix 3 to the report; and

(vii)  Delegate authority to the Chief Operating Officer, in consultation with the Cabinet Member for Finance, Growth and Investment, to proportionally amend the counterparty lending limits agreed within the 2018/19 Treasury Management Strategy Statement.