Issue - meetings

To receive a report on the 2022/23 Treasury Management, Capital and Investment Strategies.

Executive Councillor: J A Gray.

The Cabinet has recommended to Council the approval of:

§  The Treasury Management Strategy (as outlined in Appendix 1 of the report now submitted);

§  The Capital Strategy (as outlined in Appendix 2 of the report now submitted);

§  The Investment Strategy (as outlined in Appendix 3 of the report now submitted);

§  The Minimum Revenue Provision Statement (as outlined in Appendix 4 of the report now submitted); and

§  The Flexible Use of Capital Receipts Strategy (as outlined in Appendix 5 of the report now submitted).

Consideration was given to a report by the Chief Finance Officer (a copy of which is appended in the Minute Book) seeking approval of the Treasury Management Strategy, Capital Strategy, Investment Strategy, Minimum Revenue Provision Statement and Flexible Use if Capital Receipts. Whereupon, it was

RESOLVED

that the Council be recommended to approve:

a)  the Treasury Management Strategy (as attached as Appendix 1 of the report now submitted);

b)  the Capital Strategy (as attached as Appendix 2 of the report now submitted);

c)  the Investment Strategy (as attached as Appendix 3 of the report now submitted);

d)  the Minimum Revenue Provision Statement (as attached as Appendix 4 of the report now submitted); and

e)  the Flexible Use of Capital Receipts Strategy (as attached as Appendix 5 of the report now submitted).

The 2022/23 Treasury Management, Capital and Investment Strategies are to be presented to the Panel. Report to follow.

By means of a report by the Chief Finance Officer, (a copy of which was appended in the Minute Book), the 2022/23 Treasury Management, Capital and Investment Strategies was presented to the Panel.

Following an initial question by Councillor Shellens on the length of the report, the Panel heard that this was to ensure that all items were covered in sufficient detail.

Councillor Shellens additionally queried the use of Arlingclose forecasts, following which, the Panel heard that although economic forecasts were used as a guide, they were not relied upon for anything which could not be reacted to.

It was observed by Councillor Wakeford that there was scope for greater alignment between the strategies and new environmental principles. This point was noted and would be included in future reports.

Following a query from Councillor Shellens, the Panel heard that interest rates were not as low as one would expect and that this had not been a competitive landscape to operate in.

Having welcomed the report, it was thereby

RESOLVED

that the Cabinet be encouraged to endorse the recommendations contained within the report