Decision details

Agreed as set out in the recommendations in the report.

RESOLVED (unanimously) that the Cabinet agreed to:

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

2)  Recommend the Investment Strategy as detailed in Appendix 2 to February Council.

3)  Note the Treasury Management Indicators detailed in Appendix 1 and delegate authority for updating the indicators prior to approval at Full Council on 19th February 2019 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.

4)  Note that any comments made by the Corporate Audit Committee at their meeting on the 7^th February 2019 will be reported to Full Council on the 19^th February.

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, were outlined in the report.