Issue - meetings

Report by Head of Financial Services

Consideration was given to a report which outlined the proposed Treasury Management Strategy Statement and Annual Investment Strategy and set out the policy for the repayment of loans fund advances for 2023-24. 

Decision

The Audit and Scrutiny Committee:-

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

2.    noted 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.    noted the proposed asset repayment periods as detailed within section 2.7 of the Treasury Management Strategy Statement; and

4.    noted 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 Head of Financial Services, dated 16 March 2023, submitted)