Issue - meetings

REPORT OF THE SERVICE DIRECTOR - RESOURCES

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

RESOLVED:

(1)       That the Investment Strategy (as attached at Appendix A), including the capital programme and prudential indicators be adopted;

(2)       That the four clauses in relation to the Code of Practice on Treasury Management (as detailed in paragraphs 8.11 to 8.16) be adopted.

REASONS FOR DECISIONS:

(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.

Audio recording – 1 hour 10 minutes 51 seconds

The Chair advised that the recommendations in the referral from Cabinet regarding the Investment Strategy (Integrated Capital and Treasury) mirrored those in the report considered by Council.

The Executive Member for Finance and IT presented the report entitle Investment Strategy (Integrated Capital and Treasury) together with the following appendices:

·                Appendix A - Investment Strategy;

·                Appendix A1 - Full Capital Programme 2020-21;

·                Appendix A2 - New Capital Schemes and 2020-21.

The following Members took part in the debate:

·                Councillor David Levett;

·                Councillor Sam Collins;

·                Councillor Steve Jarvis;

·                Councillor Martin Stears-Handscomb;

·                Councillor Sam North;

·                Councillor Steve Deakin-Davies

·                Councillor Ian Albert.

It was proposed by Councillor Ian Albert, seconded by Councillor Sam North and:

RESOLVED:

(1)       That the Investment Strategy (as attached at Appendix A), including the capital programme and prudential indicators be adopted;

(2)       That the four clauses in relation to the Code of Practice on Treasury Management (as detailed in paragraphs 8.11 to 8.16) be adopted.

REASONS FOR DECISIONS:

(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.