Agenda item

Members considered a detailed report in relation to the Council’s Treasury Strategies 2023/24 – 2026/27.

The report outlined the Authority’s proposed suite of Treasury Strategies for the period 2023/24 to 2026/27 and contained;

·           The Treasury Management Strategy, which provided the framework for managing the Authority’s cash flows, borrowing and investments for the period,

·           The Capital Strategy, which was intended to provide a high level, concise overview of how capital expenditure, capital financing and treasury management activity contributed to the provision of the Authority’s services,

·           The Corporate Investment Strategy, which focused on investments made for service purposes and commercial reasons, rather than those made for treasury management.

The above strategies provided an approved framework within which officers undertook the day to day capital and treasury activities.

Moved by Councillor Clive Moesby and seconded by Councillor Deborah Watson

RESOLVED that (1) the Treasury Management Strategy at Appendix 1 to the report, be approved, and in particular;

a)   the Borrowing Strategy be approved,

b)   the Treasury Management Investment Strategy be approved,

c)  the use of the external treasury management advisors Counterparty Weekly List – or similar – to determine the latest assessment of the counterparties that meet the Authority’s Criteria before any investment is undertaken, be approved,

d)  the Prudential Indicators be approved,

(2) the Capital Strategy as set out in Appendix 2 to the report, be approvedand in particular;

a)    the Capital Financing Requirement be approved,

b)    the Minimum Revenue Provision Statement for 2023/24 be approved,

c)    the Prudential Indicators for 2023/24 detailed in the Capital Strategy, be approved, in particular;

                  Authorised Borrowing Limit                       £139.500m

                  Operational Boundary                    £134.500m

                  Capital Financing Requirement   £129.501m

(3) the Corporate Investment Strategy as set out in Appendix 3 to the report, be approved.

(Chief Financial Officer)