Issue - meetings

REPORT OF THE SERVICE DIRECTOR – RESOURCES

To consider the adoption of the Investment Strategy and clauses in relation to the Code of Practice on Treasury Management

RESOLVED: That Council:

(1)  Approved the adoption of the Investment Strategy (as attached at Appendix A as amended), including the capital programme and prudential indicators. This incorporates the changes referenced in paragraph 5.4.

(2)  Approved the adoption of the four clauses in relation to the Code of Practice on Treasury Management (as detailed in Paragraphs 8.11 to 8.16).

REASONS FOR DECISION:

(1)  To ensure that the capital programme meets the Council's objectives and officers can plan the implementation of the approved schemes.

(2)  To ensure Council’s compliance with the CIPFA code of practise on Treasury Management, the Local Government Act 2003, statutory guidance from the Department of Levelling Up, Housing and Communities (DLUHC) and the CIPFA Prudential Code. As well as determining and managing the Council's risk appetite in respect of investments.

Audio Recording – 100 minutes and 46 seconds

The Chair drew attention to the point raised by Councillor Michael Muir in the previous agenda item, and clarified that the line referring to Weston Hills, Baldock referred to a car park on Chalk Hills, Baldock.

The Chair invited Councillor Ian Albert, Executive Member for Finance and IT to present. Councillor Albert thanked the Chair and presented the report entitled ‘Investment Strategy (Integrated Capital and Treasury)’ and advised Members of the details included within the report.

The following Members asked questions

·         Councillor Richard Thake

·         Councillor Gerald Morris

In response to questions, the Service Director – Resources advised that:

·         The decision concerning accounting standards was delegated to the Service Director – Resources.

·         There was a similar payback on solar PV across all Leisure Centres.

Councillor Steve Jarvis provided details on the ways in which the Council was looking at future alternatives to gas boilers. He highlighted that some of the alternatives such as PV panels were not yet viable.

Councillor Ian Albert proposed and Councillor Dennis-Harburg seconded and after a vote, it was:

RESOLVED: That Council:

(1)  Approved the adoption of the Investment Strategy (as attached at Appendix A as amended), including the capital programme and prudential indicators. This incorporates the changes referenced in paragraph 5.4.

(2)  Approved the adoption of the four clauses in relation to the Code of Practice on Treasury Management (as detailed in Paragraphs 8.11 to 8.16).

REASONS FOR DECISION:

(1)  To ensure that the capital programme meets the Council's objectives and officers can plan the implementation of the approved schemes.

(2)  To ensure Council’s compliance with the CIPFA code of practise on Treasury Management, the Local Government Act 2003, statutory guidance from the Department of Levelling Up, Housing and Communities (DLUHC) and the CIPFA Prudential Code. As well as determining and managing the Council's risk appetite in respect of investments.