14 Treasury Management Strategy Statement and Annual Investment Strategy PDF 2 MB
Report by Section 95 Officer
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Minutes:
The Committee gave consideration to a report outlining the arrangements for managing the Council’s treasury activities.
Decision:
The Audit and Scrutiny Committee agreed:
1. to endorse the proposed Treasury Management Strategy Statement and Annual Investment Strategy and the indicators contained within;
2. to note 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;
3. to note the use of the asset life method for the repayment of loan fund advances after 1 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;
4. to note the proposed asset repayment periods as detailed within section 2.6 of the Treasury Management Strategy Statement; and
5. to note 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 17 March 2020, submitted,)
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