Issue - meetings

This report sets out the Council’s Treasury Management Strategy for the 2012/2013 financial year, for approval.

Discussion:

This report presented the Council’s Treasury Management Strategy for 2012/2013. The strategy incorporated the Treasury Management Policy Statement, Annual Investment Strategy and Minimum Revenue Provision Policy.

The annual presentation of a Treasury Management Strategy was a requirement under the CIPFA Code of Practice on Treasury Management, adopted by the Council on 25 February 2010. It covered the various aspects of the treasury management function and was based on the treasury officers’ views on interest rates, supplemented with leading market forecasts provided by the Council’s treasury adviser, Sector.

The Business Support Overview and Scrutiny Committee considered this report on 2 February 2012 and its views were set out in paragraph 18 of the report. The Cabinet considered this report on 14 February 2012 and its recommendation to Council was set out in paragraph 21 of the report.

A Diversity Impact Assessment screening had been undertaken and was set out in Appendix 7 to the report. It was not necessary to proceed to a full impact assessment. It was noted that the Treasury Management Strategy did not directly impact on members of the public as it dealt with the management of the local authority’s investments and cash flows, its banking, money market and capital market transactions; the effective control of the risks associated with those activities; and the pursuit of optimum performance consistent with those risks.

Councillor Jarrett, Portfolio Holder for Finance and Deputy Leader, supported by Councillor Rodney Chambers, Leader of the Council, proposed the recommendation, as set out in the report.

Decision:

The Council approved the Treasury Management Strategy and associated policies and strategy statements as attached in Appendices 1-6 to the report.

Background:

This report presented the Council’s Treasury Management Strategy for 2012/2013. The strategy incorporated the Treasury Management Policy Statement, Annual Investment Strategy and Minimum Revenue Provision Policy. Treasury Management Practices were also set out.

The annual presentation of a Treasury Management Strategy was a requirement under the CIPFA Code of Practice on Treasury Management, adopted by the Council on 25 February 2010. It covered the various aspects of the treasury management function and was based on the treasury officers’ views on interest rates, supplemented with leading market forecasts provided by the Council’s treasury adviser, Sector.

The Business Support Overview and Scrutiny Committee considered this report on 2 February 2012 and its views were set out in paragraph 18 of the report.

A Diversity Impact Assessment screening had been undertaken and was set out in Appendix 8 to the report. It was not necessary to proceed to a full impact assessment. It was noted that the Treasury Management Strategy did not directly impact on members of the public as it dealt with the management of the local authority’s investments and cash flows, its banking, money market and capital market transactions; the effective control of the risks associated with those activities; and the pursuit of optimum performance consistent with those risks.

Reasons:

Cabinet has the responsibility to make recommendations to Full Council on the approval of the Council’s Treasury Management, Investment Strategy and Minimum Revenue Provision Policy Statement along with scrutinising the Treasury Management Practices and associated schedules.