Decision details

The Council gave consideration to a report which sought approval of the proposed Treasury Management Strategy Statement and Annual Investment Strategy which set out the Council’s Strategy for borrowing and investment for the forthcoming year. The report also set out the policy for the repayment of loans fund advances for 2020-21 which had been referred without recommendation by the Policy and Resources Committee held on 20 February 2020.

Decision

The Council:-

a) Approve the proposed Treasury Management Strategy Statement and

Annual Investment Strategy and the indicators contained within.

b) Approve the use of the statutory method for the repayment of loan fund

advances prior to 1 April 2019 in respect of existing capital expenditure

using a 5.1% annuity interest rate over an average period of 32 years. For

those loans fund advances outstanding at 1 April 2004 a repayment

period of 14 years will be used.

c) Approve the use of the asset life method for the repayment of loan fund

advances after 1st April 2019 using a 5.1% annuity interest rate, with the

exception of spend to save schemes where the funding/income profile

method could be used.

d) Approve the proposed asset repayment periods as detailed within section

2.6 of the Treasury Management Strategy Statement.

e) Approve the ability to continue to use countries with a sovereign rating of

AA- and above, as recommended by Link Asset Services.

(Ref: Report by Section 95 Officer dated 13 February 2020, submitted)