Issue - meetings

The Portfolio Holder for Corporate Finance and Resources to submit a report outlining the Council’s prudential indicators for 2021/22 – 2023/24 and setting out the expected treasury operations for this period.

Cabinet

1)    RECOMMENDED to Council the prudential indicators and limits be adopted and approved;

2)    RECOMMENDED to Council the Treasury Management Strategy;

3)    RECOMMENDED to Council the Minimum Revenue Provision (MRP) Statement which set out the Council’s policy on MRP be approved;

4)    NOTED the linkages to the Capital Strategy due to the integral nature of how the Council manages its treasury finances to support capital  development.

Dawn Garton, Director for Corporate Services introduced the report, the purpose of which was to outline the Council’s prudential indicators for 2021/22 – 2023/24 and set out the expected treasury operations for this period.

Mrs. Garton advised that this linked to the Capital Strategy and capital proposals presented to Members at this meeting.  The indicators contained within the report were split between the General Fund and the Housing Revenue Account (HRA).

Councillor Joe Orson, Leader of the Council commented that the various indicators and supporting narrative demonstrated how well the Council managed its finances in a prudent and measured way.  They show how cash-flow was managed to good effect and how well investments and borrowing were managed in a challenging environment.

During discussion the following points were noted:

·         Members noted the work of the Director for Corporate Services, her team and the Portfolio for Corporate Finances and Resources, commenting that the plan was robust.

DECISIONS (NON-KEY)

Cabinet:

1)    RECOMMENDED to Council the prudential indicators and limits be adopted and approved;

2)    RECOMMENDED to Council the Treasury Management Strategy;

3)    RECOMMENDED to Council the Minimum Revenue Provision (MRP) Statement which set out the Council’s policy on MRP be approved;

4)    NOTED the linkages to the Capital Strategy due to the integral nature of how the Council manages its treasury finances to support capital  development.

Reason for the decisions

The Treasury Management Code requires the Council to approve annually a Treasury Management Strategy and to provide a mid-year update on Treasury Management activities to the Council. It is a requirement that Treasury Management is scrutinised during the year which falls within Cabinet’s remit.

To facilitate the decision making process and support capital investment decisions the Prudential Code requires the Council to agree a minimum number of prudential indicators.