Issue - meetings

RECOMMENDED:     That the following items be approved:          

·         Treasury Management Strategy Statement 2024/2025, including treasury indicators for 2024-2028.

·         The Minimum Revenue Provision Policy 2024/2025

·         The Investment Strategy 2024/2025

Reason for the Decision

The Council must have approved a Treasury Management Strategy Statement, Minimum Revenue Provision Policy Statement and Annual Investment Strategy 2024/2025 by 31 March 2024.

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The Assistant Director Resources presented the report which informed Members that the Council was required to receive and approve a Treasury Management Strategy Statement; Annual Investment Strategy; and Minimum Revenue Provision Policy Statement which covered:

·       The Treasury Management Strategy

·       Capital plans, including prudential indicators

·       A Minimum Revenue Provision (MRP) Policy

·       An Investment Strategy

This report covered the requirements of the Local Government Act 2003, the Chartered Institute of Public Finance Accountants (CIPFA) Prudential Code, The Department of Levelling Up, Housing and Communities (DLUHC - this was formerly the Ministry of Housing, Communities and Local Government (MHCLG)), MRP Guidance, the CIPFA Treasury Management Code and the DLUHC Investment Guidance.

The Council’s Treasury Advisor, Link Asset Services, provided a template document for the Treasury Management Strategy Statement, which was fully compliant with CIPFA’s code and DLUHC’s guidance. The Council had used this template in preparing the report.

The report looked at the period 2024-2028, which fitted with the Council’s Financial Plan and Capital Programme. Officers of the council had prepared the report based on their views of forecasts for interest rates, and had used information provided by the council’s Treasury Management Advisor, Link Asset Services.

In presenting the report the Assistant Director explained that it was expected that the liability benchmark against which the council would be measured against going forward, the individual requirements for which were set out in the report.

Councillor Morley drew attention to the commitment to the high programme of work.

The Assistant Director drew attention to a further amendment that she would incorporate into the Treasury Management Strategy when it was presented to Council in order for Council to take the decision relating to Cabinet recommendation CAB96: Council Companies Funding, which was a recommendation for Council at the 31 January Council meeting but not reached but was now superseded by the Strategy coming forward.

RECOMMENDED:      That the following items be approved:            

·       Treasury Management Strategy Statement 2024/2025, including treasury indicators for 2024-2028.

·       The Minimum Revenue Provision Policy 2024/2025

·       The Investment Strategy 2024/2025

Reason for the Decision

The Council must have approved a Treasury Management Strategy Statement, Minimum Revenue Provision Policy Statement and Annual Investment Strategy 2024/2025 by 31 March 2024.