Issue - meetings

Report by Interim Head of Financial Services

The Committee gave consideration to a report seeking endorsement of the proposed Treasury Management Strategy Statement and Annual Investment Strategy, and which set out the policy for the repayment of loans fund advances for 2022-23.

Decision

The Audit and Scrutiny Committee agreed to:-

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

2.    note 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.    note the proposed asset repayment periods as detailed within section 2.6 of the Treasury Management Strategy Statement; and

4.    note 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)