Agenda item

Councillor Roger Ramsey, Cabinet Member for Value, introduced the report

In February 2011 the Authority adopted the Chartered Institute of Public Finance and Accountancy’s Treasury Management in the Public Services: Code of Practice 2011 Edition (the CIPFA Code).

The Council was required to receive and approve, as a minimum, three main reports each year, which incorporated a variety of polices, estimates and actuals.  These reports were required to be adequately scrutinised by committee before being recommended to the Council.  This role was undertaken by the Audit Committee.

Treasury Management Strategy Statement (This report) - The first, and most important report covered:

·       The borrowing and investment strategies

·       Treasury Management indicators

·       Prudential Indicators

·       A Minimum Revenue Provision Policy (how residual capital expenditure was charged to revenue over time)

Treasury Management Reports to Audit Committee – This would provide an update on the prudential and treasury indicators and would include information on the current treasury position.

An Annual Treasury Report – This provided details of a selection of actual prudential and treasury indicators and actual treasury operations compared to the estimates within the strategy.

Reasons for the decision:

The statutory Codes set out that the Council ought to approve a Treasury Management Strategy Statement, the MRP Strategy and the Prudential Indicators for 2014/15.

Other options considered:

There were no good reasons to depart from the provisions of the relevant Codes.

Cabinet Recommends that Council approve the Treasury Management Strategy Statement, the Prudential Indicators and the Annual Minimum Revenue Provision statement for 2014/15.