Decision details

The Committee 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 2022/23.

Decision

The Policy and Resources Committee agreed to recommend to Council at their meeting on 24 February 2022 to –

1.    Approve the proposed Treasury Management Strategy Statement and Annual Investment Strategy and the indicators contained within. Note that the figures within the Strategy will be updated to reflect the budget decisions agreed at Council.

2.    Approve the continued use of the asset life method for the repayment of loan fund advances using a 5.1% annuity interest rate, with the exception of spend to save schemes where the funding/income profile method could be used.

3.    Approve the proposed asset repayment periods as detailed within section 2.6 of the Treasury Management Strategy Statement.

4.    Approve the ability to continue to use countries with a sovereign rating of AA- and above, as recommended by the Council’s external treasury management advisors.

(Reference:  Report by Section 95 Officer dated 10 February 2022, submitted)