To consider a report on the Treasury Management Strategy 2020-21 and Prudential Treasury Indicators.
To comply with the amended Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management 2011.
To outline a treasury management strategy statement for the financial year 2020/21.
To set out prudential indicators for the financial years 2020/23 in line with the CIPFA’s Prudential Code 2017.
To seek approval for the Council’s Minimum Revenue Provision (MRP) Policy Statement for the financial year 2020/21 in accordance with Government regulations, noting the change to the proposed method of calculating MRP.
To update the Council’s Treasury Management Practices (TMPs) in line with the CIPFA’s Code of Practice.
REASON FOR DECISION
To provide the proper basis required by current Government regulations and
guidance to make charges for debt repayment (MRP) to the Council’s revenue account.
To fulfil statutory and regulatory requirements and to provide a clear framework for
local authority capital finance and treasury management.
That Full Council be recommended approval of the following, as also set out in the amended report and Appendices 1 and 2 in the supplementary agenda ;
(1) The treasury management strategy statement for 2020/21 as set out in Appendix 1;
(2) The prudential and treasury indicators for 2020/21 to 2022/23 per Appendix 2 including the authorised limit for external debt of £52.432m in 2020/21;
(3) The list of Counterparties for Deposits outlined within Appendix 3;
(4) The Council’s MRP Statement for 2020/21 as set out in Appendix 4 of this report; and
(5) The TMP’s set out in Appendix 8 of this report.