Decision details

Cabinet resolved to recommend the Assembly to:

(i)  Note the Treasury Management Strategy Statement Mid-Year Review 2015/16;

(ii)  Note that in the first half of the 2015/16 financial year that the Council complied with all 2015/16 treasury management indicators;

(iii)  Agree to maintain the delegated authority given to the Strategic Director of Finance and Investment, in consultation with the Cabinet Member for Finance, for the duration of the 2015/16 financial year to proportionally amend the counterparty lending limits agreed within the Treasury Management Strategy Statement to take into account the additional £89m from the European Investment Bank; and

(iv)  Authorise the Strategic Director of Finance and Investment to make the necessary adjustments to the Treasury Management Strategy to reflect the borrowing of funds and the Capital Financing Requirement to accommodate the additional borrowing arising from the decision to finance the Low Energy Street Light Replacement Programme via the UK Green Investment Bank’s Green Loan.