Issue - meetings

Report number:     CAB/WS/21/007

Portfolio holder: Councillor Sarah Broughton

Lead officer: Rachael Mann

Recommended to Council (23 February 2021):

That:

1.       the Financial Resilience Strategy Statement 2021 to 2022 as set out in Appendix 1 to Report number: FRS/WS/21/002, be approved; and

2.       the Treasury Management Code of Practice, as set out in Appendix 2 to Report number: FRS/WS/21/002, be approved.

The Cabinet considered this report, which was recommending to Council, the approval of the Financial Resilience - Strategy Statement 2021 to 2022 and Treasury Management Code of Practice.

Councillor Sarah Broughton, Portfolio Holder for Resources and Performance, drew relevant issues to the attention of Cabinet, including that the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Treasury Management Code of Practice required that, prior to the start of the financial year the Council should formally approve a Treasury Management Policy Statement and Investment Strategy, setting out the Council’s treasury management policy and strategy for the forthcoming year.

The Treasury Management Strategy Statement 2021 to 2022 was attached as Appendix 1 to Report number: FRS/WS/21/002, and the Treasury Management Code of Practice attached as Appendix 2.

The report also included additional supporting information on treasury advisors; borrowing strategy; investment strategy counterparty ratings and interest rate projections.

Recommended to Council (23 February 2021):

That:

1.       the Financial Resilience Strategy Statement 2021 to 2022 as set out in Appendix 1 to Report number: FRS/WS/21/002, be approved; and

2.       the Treasury Management Code of Practice, as set out in Appendix 2 to Report number: FRS/WS/21/002, be approved.