Issue - meetings

Received a report from the Corporate Director of Resources setting out the Treasury Management Annual Investment Strategy Statement, Prudential Indicators, Annual Investment Strategy and Borrowing Strategy, in compliance with section 15(a) of the Local Government Act 2003.

Agreed, in order to assist the Council to achieve all of its Community Priorities and as a matter of good financial practice, to recommend the Assembly to approve:

  (i)  The Treasury Management Strategy Statement for 2009/10;

  (ii)  The authorised borrowing limit of £200 million for 2009/10, which will be the statutory limit determined under section 3(1) of the Local Government Act 2003;

  (iii)  The Borrowing Strategy for 2009/10;

  (iv)  The Minimum Revenue Policy Statement for 2009/10 which sets out the Council’s policy on repayment of debt;

  (v)  The Annual Investment Strategy for 2009/10, which outlines the investments that the Council may use for the prudent management of its investment balances. It also includes details of benchmarks set for external managers which will be updated for the Assembly meeting. The power is delegated to the Divisional Director of Corporate Finance to change these benchmarks as required;

  (vi)  The Treasury Management Prudential Indicators for 2009/10;

  (vii)  The Treasury Management Principles for 2009/10, and

  (viii)  Change the counterparty limits from 30% to 20%. (Relating to the Investment Strategy).