Issue - meetings

To consider the report of the Strategic Director for Corporate Resources.

Agreed:

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

Reason for Decision: As set out in the report.

The Executive received the report which sought the adoption of the Treasury Management Strategy Report, incorporating the Annual Investment Strategy 2025/26, and revised supporting Treasury Management Practices, as required under section 15(1)(a) of the Local Government Act 2003.

Particular reference was made to:-

·         the Treasury Management Strategy outlined the management of cash flow and investment of surplus funds, both for short and longer-term periods;

·         the Treasury Management Strategy had been cross-referenced with the Environmental, Social and Governance Policy and was now fully aligned;

·         updated Treasury Management practices had been included and were attached to the appendix presented at the meeting; and

·         there were no changes being proposed to limits in the report.

An opposition group leader enquired about the impact of the ethical policy on investments relating to BlackRock and Aberdeen Standard Investments.

In response to the question raised, the Strategic Director for Corporate Resources advised that BlackRock and Aberdeen Standard Investments were money market funds, and as such had no direct influence on their dividends. Funds had been withdrawn from Barclays earlier in the year for practical cash management reasons.

The Leader moved the recommendations, which were seconded by Councillor Wright, voted upon, and CARRIED unanimously.

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