Agenda item

(Cabinet Member with Special Responsibility Councillor Whitehead)

Report of Chief Officer (Resources)

(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.