The Council considered a report which set out recommendations for the Treasury Management Strategy, the Minimum Revenue Provision (MRP) Strategy and the Treasury Management Prudential Indicators, as required under the Chartered Institute of Public Finance and Accountancy’s Prudential Code.
Since 2019/20 the Council had also been required to approve a Capital Strategy and Investment Strategy outlining the Council’s activities, the reasons for and types of investments undertaken and the risk exposure as a result of these decisions. The purpose was to provide a comprehensive and transparent picture of the Council’s position, linking links into the Council’s overall corporate plans and objectives.
The Mayor referred the Members to the recommendations within the report.
In accordance with Standing Order 10.8 the recommendations were put to a vote. The names of Members voting for and against the recommendations were recorded as follows:
In favour: Councillors Dr H Akberali, A Azad, T Aziz, A-M Barker, J Brown, G Cosnahan, K Davis, S Dorsett, G Elson, W Forster, P Graves, I Johnson, D Jordan, C Kemp, A Kirby, R Leach, L Lyons, L Morales, J Morley, E Nicholson, S Oades, M I Raja, D Roberts, J Sanderson, T Spencer and M Whitehand.
Total in favour: 26
Total against: 0
Present not voting: The Mayor, Councillor S Hussain.
Total present not voting: 1
The recommendations were therefore carried by 26 votes in favour and no votes against.
That (i) the Treasury Management Strategy set out in the report be approved;
(ii) the Capital and Investment Strategies for 2023/24 be approved; and
(iii) the Treasury Management Prudential Indicators set out in table 1 of Section 4 of the Treasury Management Strategy and the MRP policy set out in Appendix A be approved, subject to any changes arising from consideration of the Investment Programme and revenue budgets.