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 along with the Council’s Prudential Indicators, which require to be set for a three year period.  The report also set out the policy for the repayment of loans fund advances for 2017-18.

Following discussion the Head of Strategic Finance indicated her intention to raise directly with Capita the tenor and accuracy of some of the references contained within their appendices.

Decision

The Committee agreed to recommend to Council –

1.    Approval of the proposed Treasury Management Strategy Statement and Annual Investment Strategy subject to review by the Performance Review and Scrutiny Committee in March 2017.

2.    Approval of the use of Option 1 (statutory method) for the repayment of loan fund advances in respect of existing capital expenditure and new advances up to 31 March 2021 at an interest rate of 4.644%, with the exception of spend to save schemes where Option 4 (funding/income profile method) will be used.

3.    Approval of the ability to use countries with a sovereign rating of AA- and above as recommended by Capita, which would include the use of Abu Dhabi and Qatar, rated as AA.

(Reference: Report by Head of Strategic Finance dated 6 February 2017, submitted; and Treasury Management Strategy Statement and Annual Investment Strategy 2017/18, submitted)