It was proposed by Councillor Yates, seconded by Councillor Albon and Members agreed that the recommendation set out in the report be agreed, namely:
“That Council approves this report and annexes”
Cabinet acknowledged that the council was required to operate a balanced budget, which broadly means that cash raised during the year will meet cash expenditure. Part of the treasury management operation is to ensure that this cash flow is adequately planned, with cash being available when it is needed. Surplus monies are invested in low risk counterparties or instruments commensurate with the council’s low risk appetite, providing adequate liquidity initially before considering investment return. As part of the discussion, Cabinet considered the following key items in the report:
· No change to the Minimum Revenue Provision policy (policy for paying off the accumulated borrowing requirement).
Councillor Yates proposed, Councillor Albon seconded and Cabinet agreed:
1. To recommend the Cabinet report and annexes, including each of the key elements listed below, to council for approval:
a. The Capital Plans, Prudential Indicators and Limits for 2021-22 to 2023-24, including the Authorised Limit Prudential Indicator;
b. The Minimum Revenue Provision (MRP) Policy;
c. The Treasury Management Strategy for 2021-22 to 2023-24 and the Treasury Indicators;
d. The Investment Strategy for 2021-22 contained in the Treasury;
e. Management Strategy, including the detailed criteria;
f. The Capital Strategy for 2021-22;
g. The Non-Treasury Investments Report for 2021-22.