Report: Treasury Management Strategy Statement 2024/25 and Annual Investment Strategy 2024/25 (“TMSS”), Treasury Indicators

Presented by:  Councillor Christopher Wilkins - Cabinet Member for Finance

Cabinet agreed:   

·         The Draft 2024/25 TMSS & AIS which will form part of the Budget Report to Cabinet on 7 February and Full Council on 28 February 2024.

·         The revised prudential and treasury indicators set out in Appendix 2 and 3.

·                  The operational and authorised borrowing limits set out in tables 5 & 6 of appendix 2

Under the Havering Scheme of Delegation Part 3 section 3.10.3 the s151 Officer functions are:

(j)   To manage the Council’s loan debt, investments, and temporary investments, pension scheme and pension fund, insurance fund, act as registrar of loan instruments, manage all banking arrangements including numbers and types of accounts and arrange insurance of property and the selecting and accepting of tenders for insurance cover and related services which are considered to offer best value for the Council promoting good risk management practices at all times.

Report: Treasury Management Strategy Statement 2024/25 and Annual Investment Strategy 2024/25 (“TMSS”), Treasury Indicators

Presented by:  Councillor Christopher Wilkins - Cabinet Member for Finance

The Treasury Management Strategy Statement (“TMSS”) is part of the Authority’s reporting procedures as recommended by the Chartered Institute of Public Finance and Accountancy (CIPFA) Treasury Management (“TM”) Code and its Prudential code (“The CIPFA Prudential Code”) for capital finance in local authorities. The TMSS also sets out recently introduced changes to the legislative framework, which are generally designed to place restrictions on authorities’ commercial activity.

This report fulfils the Authority’s legal obligation under the Local Government Act 2003 to have regard to both the CIPFA TM Code/Prudential Code and Government Guidance, and it covers:

•         The Borrowing and Investment Strategies

•         Treasury Management and Prudential Indicators.

Cabinet agreed:  

·        The Draft 2024/25 TMSS & AIS which will form part of the Budget Report to Cabinet on 7 February and Full Council on 28 February 2024.

·         The revised prudential and treasury indicators set out in Appendix 2 and 3.

·                 The operational and authorised borrowing limits set out in tables 5 & 6 of appendix 2

Under the Havering Scheme of Delegation Part 3 section 3.10.3 the s151 Officer functions are:

(j)   To manage the Council’s loan debt, investments, and temporary investments, pension scheme and pension fund, insurance fund, act as registrar of loan instruments, manage all banking arrangements including numbers and types of accounts and arrange insurance of property and the selecting and accepting of tenders for insurance cover and related services which are considered to offer best value for the Council promoting good risk management practices at all times.