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 2019-20 which had been referred without recommendation by the Policy and Resources Committee held on 14 February 2019.

Decision

The Council:-

1.     Approved the proposed Treasury Management Strategy Statement and Annual Investment Strategy and the indicators contained within.

2.     Approved 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 4.095%, with the exception of spend to save schemes where Option 4 (funding/income profile method) will be used.

3.     Approved the ability to continue to use countries with a sovereign rating of AA- and above, as recommended by Link Asset Services.

(Ref: Report by Head of Strategic Finance dated 2 February 2019, submitted)