Agenda item

Report of Director of Finance and Support (Copy herewith).

2.1 Cabinet recommended to Council that they approved:

a)     The Treasury Management Policy Statement at Appendix C of the report

b)     The Treasury Management Practices (TMPs) Main Principles at Appendix D of the report

c)      The TMP Schedules for 2012-13 at Appendix E of the report

d)     The Treasury Management Strategy for 2012-13 at Appendix F of the report, incorporating:

(i) The Capital Financing and Borrowing Strategy for 2012-13 including:

·        The Council’s policy on the making of Minimum Revenue Provision (MRP) for the repayment of debt, as required by the Local Authorities (Capital Finance & Accounting) (Amendments) (England) Regulations 2008.

·        The Affordable Borrowing Limit for 2012-13 as required by the Local Government Act 2003.

(ii) The Investment Strategy for 2012-13 as required by the CLG revised Guidance on Local Government Investments issued in 2010.

e)     That authority be delegated to the Council’s Chief Finance Officer, the Director of Finance and Support, in liaison with the Portfolio Holder for Finance, to make any temporary changes needed to the Council’s borrowing and investment strategy to enable the authority to meet its obligations.

2.2    Cabinet recommended to Council that they note

a) Adherence to the Council’s policy on reserves and balances (paragraph 3.2.13).

b) Compliance with the requirement under the Local Government Finance     Act 1992 to produce a balanced budget (paragraph 3.2.14 & 3.2.15).

Councillor Bottwood as the relevant Cabinet Member, submitted a report and commented that the report dealt with the Council’s Treasury Management Strategy for 2012-13 and the following two financial years. It was noted that effective treasury management was necessary in order to protect the Council resources especially with regards to the current financial climate.

RESOLVED:

That Council be recommended to approve:

a)     The Treasury Management Policy Statement at Appendix C of the report

b)     The Treasury Management Practices (TMPs) Main Principles at Appendix D of the report

c)      The TMP Schedules for 2012-13 at Appendix E of the report

d)     The Treasury Management Strategy for 2012-13 at Appendix F of the report, incorporating:

(i) The Capital Financing and Borrowing Strategy for 2012-13 including:

·        The Council’s policy on the making of Minimum Revenue Provision (MRP) for the repayment of debt, as required by the Local Authorities (Capital Finance & Accounting) (Amendments) (England) Regulations 2008.

·        The Affordable Borrowing Limit for 2012-13 as required by the Local Government Act 2003.

(ii) The Investment Strategy for 2012-13 as required by the CLG revised Guidance on Local Government Investments issued in 2010.

e)     That authority be delegated to the Council’s Chief Finance Officer, the Director of Finance and Support, in liaison with the Portfolio Holder for Finance, to make any temporary changes needed to the Council’s borrowing and investment strategy to enable the authority to meet its obligations.

2.2    That Council note;

a) Adherence to the Council’s policy on reserves and balances (paragraph 3.2.13).

b) Compliance with the requirement under the Local Government Finance     Act 1992 to produce a balanced budget (paragraph 3.2.14 & 3.2.15).