Decision details

(Cabinet Member with Special Responsibility Councillor Bryning)

The Head of Financial Services submitted a report setting out the position regarding the 2009/10 to 2011/12 Treasury Management Strategy for Cabinet’s approval.

The options, options analysis, including risk assessment, were set out in the report as follows:

As part of the adoption of the CIPFA Code of Practice on Treasury Management it is a statutory requirement that the authority has aTreasury Management Strategy Statement and Investment Strategy.  In this regard, Cabinet may put forward alternative proposals or amendments to the proposed documents, but these would have to be considered in light of legislative, professional and economic factors.  As such, no further options analysis is available at this time.

Furthermore, the Strategies must fit with other aspects of Cabinet’s budget proposals, such as investment interest estimates and underlying prudential borrowing assumptions, feeding into Prudential Indicators.  It should be noted that the Prudential Indicators will also be covered in the Budget report, elsewhere on this agenda.

The officer preferred option and justification:

To approve the annual Treasury Management Strategy Statement as set out, including the Investment Strategy, for referral on to Council, but as updated for Cabinet’s final budget proposals.

It was moved by Councillor Bryning and seconded by Councillor Barry:-

“(1)      That Cabinet approves the Treasury Management Strategy for the period 2009/10 to 2011/12, including the Investment Strategy, and as updated for Cabinet’s final budget proposals, for subsequent referral to Council.”

Members then voted as follows:-

Resolved:

(7 Members (Councillors Archer, Barry, Blamire, Bryning, Fletcher, Gilbert and Kerr) voted in favour and 2 Members (Councillors Charles and Mace) abstained.)

(1)     That Cabinet approves the Treasury Management Strategy for the period 2009/10 to 2011/12, including the Investment Strategy, and as updated for Cabinet’s final budget proposals, for subsequent referral to Council.

Officers responsible for effecting the decision:

Corporate Director (Finance and Performance)

Head of Financial Services

Reasons for making the decision:

As part of the adoption of the CIPFA Code of Practice on Treasury Management it is a statutory requirement that the authority has a Treasury Management Strategy Statement and Investment Strategy.