The Director of Finance and Resources presented a report recommending for approval the Treasury Management Strategy Statement and the Annual Investment Strategy Statement for 2019/20 and the Minimum Reserve Provision (MRP) Policy for 2019/20.
The report noted the Council’s requirement to approve its Treasury Management and Investment Strategies, and to reaffirm its adoption of the Chartered Institute of Public Finance and Accountancy (CIPFA) ‘Code of Practice for Treasury Management in the Public Services’, at the start of each financial year.
The report detailed the Council’s estimated capital expenditure, how this would be financed and the Council’s borrowing need, along with the proportion of income used to finance the debt and the impact on Council Tax and housing rents.
The Treasury Management Strategy Statement 2019/20 was attached at Appendix A to the officer’s report.
* RESOLVED –
That Council be recommended to:
1. Affirm its adoption of CIPFA’s Code of Practice on Treasury Management.
2. Approve the Treasury Management Strategy Statement and Annual Investment Strategy, including the Prudential Code Indicators.
3. Approve the Minimum Revenue Provision policy for 2019/20.