Decision details

The Cabinet resolved to:

(i)  Approve a loan of up to £595,000 for Barking & Dagenham Trading Partnership, as detailed in paragraph 6.5 of the report; and

(ii)  Delegate authority to the Chief Operating Officer, in consultation with the Cabinet Member for Finance, Growth and Investment, to agree contractual terms, including the rate, duration and security as part of the loan agreements;

The Cabinet resolved to recommend the Assembly to:

(iii)  Note the Treasury Management Strategy Statement Mid-Year Review 2017/18;

(iv)  Note that in the first half of the 2017/18 financial year the Council complied with all 2017/18 treasury management indicators;

(v)  Note the value of investments at 30 September 2017 totalled £250.5 million;

(vi)  Note the value of long term borrowing at 30 September 2017 totalled £502.2m, comprising market, PWLB and EIB loans;

(vii)  Note the value of short term borrowing at 30 September 2017 totalled £70.0m; and

(viii)  Agree the revised Minimum Revenue Provision Policy Statement as set out at Appendix 1 to the report.