Issue - meetings

To consider the report of the Chief Finance Officer.

Corporate Services Scrutiny Committee considered the report at its meeting on 24 January 2019 and its comments will be reported.

The Chief Finance Officer presented the report seeking adoption by the Council of the Treasury Management Strategy Report, incorporating the Annual Investment Strategy 2019/20, as required under section 15(1)(a) of the Local Government Act 2003. This report was a statutory requirement and there had been no significant changes from last year. He advised of the maximum limit to be lent to any one organisation in respect of Property Funds which was £10 million, the Council currently had £5 million in such fund and would wait post Brexit to make anymore investments. The other limits on the value of investments to be held in any one institution was a maximum of £5 million depending on the creditworthiness of that institution.

Corporate Services Scrutiny Committee considered the report at its meeting on 24 January 2019 and its comments were reported.

RECOMMENDED that Council adopt the new Treasury Management Strategy and delegations contained therein.

To consider the report of the Chief Finance Officer.

The Chief Finance Officer presented the report which sought Council approval of the Treasury Management Strategy Report, which also incorporated the Annual Investment Strategy 2019/20, as required by the Local Government Act 2003. Although there had been no substantial change, the Council was required to approve the Treasury Management Strategy and Investment Strategy before the start of each financial year, to decrease the risk of exposure to financial loss of invested funds and the revenue effect of changing interest rates.  He set out the key issues, listed in Section 8 of the circulated report for Members to consider.

Corporate Services Scrutiny Committee noted the Treasury Management report for 2019/20 financial year and recommended approval by Executive and Council.