Decision details

Approved as set out in the recommendations.

RESOLVED (unanimously) that the Cabinet agreed to:

2.1  Recommend the actions proposed within the Treasury Management Strategy Statement (Appendix 1) to February Council.

The Cabinet also agreed to:

2.2  Note the Treasury Management Indicators detailed in Appendix 1 and delegate authority for updating the indicators prior to approval at Full Council on 25th February 2020 to the Chief Finance Officer and Cabinet Member for Resources, in light of any changes to the recommended budget as set out in the Budget Report elsewhere on the agenda for this meeting.

2.3  Note that any comments made by the Corporate Audit Committee at their meeting on the 6th February 2020 will be reported to Full Council on the 25th February 2020.

This report is a statutory requirement. Treasury risk management at the Authority is conducted within the framework of the Chartered Institute of Public Finance and Accountancy’s Treasury Management in the Public Services: Code of Practice 2017 Edition (the CIPFA Code) which requires the Authority to approve a treasury management strategy before the start of each financial year. This report fulfils the Authority’s legal obligation under the Local Government Act 2003 to have regard to the CIPFA Code.

The Chief Financial Officer, having consulted the Cabinet Member for Resources, 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 the table below.