Issue - meetings

In accordance with the revised CIPFA Treasury Management in Public Services Code of Practice 2011, the Council is required to approve a Treasury Management Strategy before the start of each financial year and for this to be scrutinised by an individual / group of individuals or committee.

In addition, the Department for Communities and Local Government (CLG) issued revised guidance on local authority investments in March 2010 that requires the Council to approve an investment strategy before the start of each financial year.

This report fulfils the Council’s legal obligation under the Local Government Act 2003 to have regard to both the CIPFA Code and the CLG Guidance.  This report is on the agenda to be scrutinised by the Corporate Audit Committee at the 26^th March 2015 meeting, following which any recommended amendments to the strategy will be reported back to Cabinet.

Councillors considered a report which fulfilled the Council’s legal obligation under the Local Government Act 2003 to approve a Treasury Management Strategy and an Investment Strategy before the start of each financial year, in accordance with the CIPFA Code and the CLG Guidance.

The report is also on the agenda to be scrutinised by the Corporate Audit Committee on 26^th March 2015.

On a motion from Councillor David Bellotti, seconded by Councillor Tim Warren, it was

RESOLVED to agree that;

1.  The actions proposed within the Treasury Management Strategy Statement (Appendix 1 of the report) are approved;

2.  the Investment Strategy, as detailed in Appendix 2 of the report, is approved; and

3.  the changes to the authorised lending lists detailed in Appendix 2 and highlighted in Appendix 3 are approved.

[Note – this item was passed unanimously]

This report meets the Council’s obligation to have regard to both the CIPFA Treasury Management in Public services Code of Practice and the Department for Communities and Local Government revised guidance on local authority investments.  The report will be scrutinised by the Corporate Audit Committee at the 26th March 2015 meeting, following which any recommended amendments to the strategy will be reported back to Cabinet.

Councillor Paul Crossley said that the papers were self-explanatory and he moved the recommendations.

Councillor David Dixon seconded the proposal.

On a motion from Councillor Paul Crossley, seconded by Councillor David Dixon, it was

RESOLVED (unanimously)

(1) To RECOMMEND to Council that the Council approves the actions proposed within the Treasury Management Strategy Statement;

(2) To RECOMMEND to Council that the Council approves the Investment Strategy;

(3) To RECOMMEND to Council that the Council approves the changes to the authorised lending lists;

(4) To NOTE the Treasury Management Indicators detailed in the report; and

(5) To DELEGATE authority for updating the indicators prior to approval at Full Council on 17th February 2015 to the Chief Finance Officer & Divisional Director – Business Support and Cabinet Member for Community Resources, in light of any changes to the recommended budget as set out in the Budget Report elsewhere on the agenda for this meeting.