Agenda item

(copy herewith)

Councillor Bottwood submitted a report that set out the Treasury Management Policy Statement, the Treasury Management Practices (TMPs) and TMP Schedules for 2012-13, the Treasury Management Strategy for 2012-13 and other associated treasury management information for 2012-13. Councillor Mackintosh seconded adoption of the report.

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

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

c)      The TMP Schedules for 2012-13 at Appendix Eof the attached Cabinet report

d)     The Treasury Management Strategy for 2012-13 at Appendix Fof the attached Cabinet 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. That the following be noted:

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

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