Decision details

The Cabinet resolved to recommend the Assembly to adopt the Treasury Management Strategy Statement for 2019/20 and, in doing so, to:

(i)  Note the current treasury position for 2019/20 and prospects for interest rates, as referred to in section 7.2 of the report;

(ii)  Approve the Annual Investment Strategy 2019/20 outlining the investments that the Council may use for the prudent management of its investment balances, as set out in Appendix 1 to the report;

(iii)  Approve the Council’s Borrowing Strategy 2019/20 to 2023/24, as set out in Appendix 2 to the report;

(iv)  Note the inclusion of the Capital Strategy 2019/20, incorporating the Investment and Acquisitions Strategy, as set out in Appendix 3 to the report;

(v)  Approve the Capital Prudential and Treasury Indicators 2019/20 – 2022/23, as set out in Appendix 4 to the report;

(vi)  Approve the Minimum Revenue Provision Policy Statement for 2019/20, representing the Council’s policy on repayment of debt, as set out in Appendix 5 to the report;

(vii)  Note that a review of the Minimum Revenue Provision Policy Statement was to be carried out and any amendments reported back as part of the Treasury Outturn Report for 2018/19;

(viii)  Approve the Operational Boundary Limit of £1.002bn and the Authorised Borrowing Limit of £1.102bn for 2019/20, representing the statutory limit determined by the Council pursuant to section 3(1) of the Local Government Act 2003, as referred to in Appendix 4 to the report; and

(ix)  Delegate authority to the Chief Operating Officer, in consultation with the Cabinet Member for Finance, Performance and Core Services, to proportionally amend the counterparty lending limits agreed within the Treasury Management Strategy Statement.