REPORT OF THE SERVICE DIRECTOR – RESOURCES
To consider the Investment Strategy (which replaces the Capital Programme and Treasury Strategy) and recommend to Council its adoption.
Additional documents:
Decision:
RESOLVED:
(1) That Council adopts the Investment Strategy (as attached at Appendix A), including the capital programme and prudential indicators.
(2) That Council adopts the four clauses in relation to the Code of Practice on Treasury Management (as detailed in paragraphs 8.17 to 8.23).
REASONS FOR RECOMMENDATIONS:
(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 the Council’s compliance with CIPFA’s code of practice on Treasury Management, the Local Government Act 2003, statutory guidance from the Ministry of Housing, Communities and Local Government and the CIPFA Prudential Code. As well as determining and managing the Councils risk appetite in respect of investments.
Minutes:
Audio Recording – Start of Item – Session 2 - 1 hr 22 minutes 50 seconds
The Council had produced an Investment Strategy in response to guidance from the Ministry for Housing, Communities and Local Government and the Chartered Institute of Public Finance and Accountancy as submitted with the report of the Service Director – Resources. This replaced the Capital Programme and Treasury Strategy that had previously been produced.
The Investment Strategy provided additional information that was not contained within the previous separate reports and this was explained in section 8.
The Investment Strategy contained the following key information:
• A capital programme for 2019/20 of £8.213m, and £11.303m for the period 2019/20 to 2023/24.
• Recommendations on Prudential Indicators and other Treasury Indictors that would be monitored and reported on during the year (2019/20)
• Changes to the scope of treasury investments to be included within the strategy.
It was moved by Councillor Julian Cunningham, seconded by Councillor Lynda Needham and
RESOLVED:
(1) That Council adopts the Investment Strategy (as attached at Appendix A), including the capital programme and prudential indicators.
(2) That Council adopts the four clauses in relation to the Code of Practice on Treasury Management (as detailed in paragraphs 8.17 to 8.23).
REASONS FOR RECOMMENDATIONS:
(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 the Council’s compliance with CIPFA’s code of practice on Treasury Management, the Local Government Act 2003, statutory guidance from the Ministry of Housing, Communities and Local Government and the CIPFA Prudential Code. As well as determining and managing the Councils risk appetite in respect of investments.