Issue - meetings

The Corporate Director (s151) submitted a report, the purpose of which was to consider the Treasury Management and Annual Investment Strategies, the Minimum Revenue Provision Policy and set the Prudential Indicators for 2011/12.

The Prudential Code regulated the manner in which capital spending plans were to be considered and approved, and in conjunction with this, the development of an integrated Treasury Management Strategy.  The Council was required to set a number of Prudential Indicators, and these were to be considered when determining the Council’s Treasury Management Strategy.

The Treasury Management Strategy Statement detailed the expected activities of the Treasury function in the forthcoming financial year.  Its production and submission to the Council was a requirement of the Code.

The Annual Investment Strategy was to set out the Council’s policies for the prudent management of its investments including the security and liquidity of those investments.  It detailed the Specified and Non Specified Investment Instruments to be used by the Council in 2011/12.  Approval was also sought for the specified use of credit ratings and the maximum periods for which funds may be prudently committed in each asset category..

The suggested strategies for 2011/12 were based on advice from the Council’s treasury advisors, Sector Treasury Services Limited.

         Resolved

         (a)    That the report be received

         (b)    That the Treasury Management and Investment Strategies be noted and approved

         (c)     That the Prudential Indicators, as set out in Annex E to the report, be approved.

The Corporate Director (s151) submitted a report, the purpose of which was to consider the Treasury Management and Annual Investment Strategies, the Minimum Revenue Provision Policy and set the Prudential Indicators for 2010/11.

The CIPFA Code stated that Members would receive reports on its Treasury Management Policies, practices and activities at intervals, to include quarterly statements and an annual strategy together with an annual post year review.  The Code had recently been reviewed and the changes for Members to consider for adoption were shown in the report.

The Local Government Act 2003 introduced legislation governing capital investment decisions, emphasis was now placed on Local Authority self regulation, which was governed by the 2003 Prudential Code for Capital Finance in Local Authorities.

The Prudential Code regulated the manner in which capital spending plans were to be considered and approved, and in conjunction with this, the development of an integrated Treasury Management Strategy.  The Council was required to set a number of Prudential Indicators, and these were to be considered when determining the Council’s Treasury Management Strategy.

The Treasury Management Strategy Statement detailed the expected activities of the Treasury function in the forthcoming financial year.  Its production and submission to the Council was a requirement of the Code.

The Local Government Act 2003 also required authorities to produce an Annual Investment Strategy, to be approved by Council. The Strategy to set out the Council’s policies for the prudent management of its investments including the security and liquidity of those investments.  It detailed the specified and non-specified investment instruments to be used by the Council and any fund manager in 2010/11.  Approval was also sought for the specified use of credit ratings and the maximum periods for which funds may be prudently committed in each asset.

The suggested strategies for 2010/11 were based on advice from the Council’s treasury advisors, Sector Treasury Services Limited.

         Resolved

         (a) That the report be received

         (b) That the revised CIPFA Treasury Management Code of Practice as outlined in Annex B to the report be noted and approved

         (c) That the Treasury Management and Investment Strategies be noted

         (d) That the Prudential Indicators, as set out in Annex F to the report, be approved.

The meeting closed at 9.10pm.