Issue - meetings

To seek approval of the Treasury Management Strategy 2019/20 for consultation.

RESOLVED that the contents of the Draft Treasury Management report, including Annex 1 to the report presented, be approved for formal consultation in accordance with the Council’s Constitution.

The Executive considered a report seeking approval to consult on a draft Treasury Management Strategy. This was appended to the report. The covering report set out a range of issues for the Executive to consider.  This included an explanation of significant changes to the Prudential Code, the Treasury Management Code of Practice and other regulations published during 2017 and 2018. It was noted that changes were necessary to reflect the increasingly complex business models that had been adopted by local authorities in response to reductions in other funding streams.

Councillor Schofield explained that the Strategy had been broken down into different sections and provided information on each of the following: 

-       the Capital Prudential Indicators;

-       the Borrowing Strategy; and

-       the Treasury Investment Strategy.

The Executive was informed that these associated strategies would be reviewed in due course by a Member Panel with the assistance of external Treasury Advisors, to ensure that the proposals within the Treasury Management Strategy best supported the Council’s expected activity during 2019/20 and beyond.

Councillor Schofield highlighted further work would be carried out to finalise the Strategy details to ensure alignment with a new Capital Investment Strategy. This would be reported to the Executive in March and full Council in April. 

RESOLVED that the contents of the Draft Treasury Management report, including Annex 1 to the report presented, be approved for formal consultation in accordance with the Council’s Constitution.

Reason for decision: To support the adoption of a Treasury Management Strategy for the 2019/20 financial period.

Alternative options: To not support the report or to defer the report and ask Officers to provide more information and/or clarification on any specific points.