Decision details

Approved as set out in the report.

RESOLVED (unanimously) that the Cabinet agreed to:

1.  Recommend the actions proposed within the Treasury Management Strategy Statement (Appendix 1).

2.  Recommend the Investment Strategy as detailed in Appendix 2.

3.  Recommend to February Council for approval that decisions to borrow from the Local Government Association (LGA) Bond Agency, as detailed in Appendix 1, are delegated to the Chief Finance Officer in consultation with the Cabinet Member for Finance & Efficiency.

4.  Note the Treasury Management Indicators detailed in Appendix 1 and delegate authority for updating the indicators prior to approval at Full Council on 14th February 2017 to the Chief Finance Officer and Cabinet Member for Finance & Efficiency, in light of any changes to the recommended budget as set out in the Budget Report elsewhere on the agenda for this meeting.

This report is a statutory requirement.

In accordance with the CLG Guidance, the Council will be asked to approve a revised Treasury Management Strategy Statement should the assumptions on which this report is based change significantly. Such circumstances would include, for example, a large unexpected change in interest rates, or in the Authority’s capital programme or in the level of its investment balance

The Chief Financial Officer, having consulted the Cabinet Member for Finance and Efficiency, believes that the above strategy represents an appropriate balance between risk management and cost effectiveness. Some alternative strategies, with their financial and risk management implications, are included in the report.