(Cabinet Member with Special Responsibility Councillor Whitehead)
Report of Chief Officer (Resources)
Minutes:
(Cabinet Member with Special Responsibility Councillor Whitehead)
Cabinet received a report from the Chief Officer (Resources) which set out the 2017/18 Treasury Management Framework for Cabinet’s approval and referral on to Council.
The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:
Cabinetmayputforwardalternativeproposalsoramendmentstotheproposed StrategyinAppendixA to the report,butthesewouldhavetobeconsideredinlightoflegislative, professionalandeconomicfactors,andimportantly,anyalternativeviewsregarding theCouncil’sriskappetite.Assuchnofurtheroptionsanalysisisavailableatthis time.
Furthermore,theStrategymustfitwithotheraspectsofCabinet’sbudgetproposals, suchasinvestmentinterestestimatesandunderlyingprudentialborrowing assumptions,feedinginto Prudential andTreasuryManagementIndicators.
The officer preferred option is to approvetheframeworkasattached to the report,allowingforanyamendmentsbeingmade underdelegatedauthoritypriortoreferraltoCouncil. ThisisbasedontheCouncil continuingtohavea lowriskappetiteregardingthesecurityandliquidityof investmentsparticularly,butrecognisingthat some flexibilityshouldhelpimprove returns,whilststilleffectivelymitigatingrisk.Itisstressed that intermsoftreasuryactivity, thereisnoriskfreeapproach.Itisfelt, however, thatthemeasuressetoutabove provide a fit for purposeframeworkwithin which to workoverthecoming year.
Councillor Whitehead proposed, seconded by Councillor Clifford:-
“That the recommendation, as set out in the report, be approved.”
Councillors then voted:-
Resolved unanimously:
(1) ThattheFinancePortfolioHolderbegivendelegatedauthorityto agree the TreasuryManagementFramework,asupdatedforCabinet’sfinalbudget proposals,forreferralon to Council.
Officer responsible for effecting the decision:
Chief Officer (Resources)
Reasons for making the decision:
The proposed Treasury Management framework forms part of the Council’s budget and policy framework, and fits into the Medium Term Financial Strategy.
Supporting documents: