The Leader and Cabinet Member for Finance introduced the report which set-out and sought approval of the proposed Treasury Management Strategy, the Prudential and Treasury Management Indicators for 2020/21 and the Treasury Management Policy.  The Cabinet Member reported that the report fulfilled the Council’s legal obligation to have regard to the CIPFA Code and the Ministry of Housing, Communities and Local Government guidance.

The Cabinet Member stated that the Council’s borrowing was based on short-term loans and internal resources which he considered to be prudent.  He explained the importance of making it clear what projects the Council was borrowing for, and referred to paragraph 2.5 of the report which set-out approved sources of long-term and short-term borrowing.   He observed that cash investments were currently best put into money markets, not commercial or retail, and that the Council did not currently invest in equities, but if it were too in the future it would need to consider its ethical standards. 

The Cabinet Member proposed the recommendations and these were seconded by Councillor Angela Harrison.

Recommendations:

(1)      That the Treasury Management Strategy 2020/21 and the Prudential and Treasury Management Indicators be approved.

(2)          That the Treasury Management Policy in Appendix II be approved.