Agenda item
Capital, Investment and Treasury Management Strategies EXE19-005
- Meeting of Executive, Thursday, 7th February, 2019 7.30 pm (Item 10.)
- View the declarations of interest for item 10.
- View the background to item 10.
Reporting Person – Leigh Clarke
Minutes:
The Executive received a report which set out the Council’s Treasury Management Strategy for 2019-20 and recommended to Council that the Treasury Management Prudential Indicators and Minimum Revenue Provision (MRP) Strategy be adopted. It was noted that under new requirements for 2019-20 the Council was required to also approve a Capital Strategy and Investment Strategy. Councillor Azad, Portfolio Holder for Corporate Financial Planning and Policy, explained that the new strategies provided detail on how and why the Council undertook investment decisions and provided a more comprehensive and transparent picture of the Council’s position and the link with the Council’s overall corporate plans and objectives.
The Executive noted that the Council had a principle of investing for better outcomes for Woking citizens and that investment decisions were not solely taken based on rates of return. It was further noted that acquisitions had a strategic purpose with a direct link to Council objectives or services.
Following a question regarding reference to the YPod in the Capital Strategy Report 2019-20, Officers advised that it concerned a change of use within the building and was not a redevelopment of the site.
RESOLVED
That (i) the Treasury Management Strategy set out in the report be approved; and
RECOMMENDED to Council
That (ii) the Capital and Investment Strategies for 2019/20 be approved;
(iii) from 2018/19 the funding of Thameswey Housing Ltd to be amended from the existing combination of loan and shares with an equivalent margin of 1.5% to loan only at 1.5% margin over the Council’s borrowing costs; and
(iv) 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, revenue budgets and Revenue Support Grant Settlement.
Reason: To determine the Council’s Treasury Management Strategy for 2019/20 and to recommend to Council the Capital and Investment Strategies, Treasury Management Prudential Indicators and MRP Strategy to be adopted.
Supporting documents:
- EXE19-005 Capital, Investment and Treasury Management Strategies, item 10. PDF 75 KB
- EXE19-005 Capital Strategy 2019-20, item 10. PDF 111 KB
- EXE19-005 Investment Strategy 2019-20, item 10. PDF 117 KB
- EXE19-005 Treasury Management Strategy and Prudential Indicators 2019-20, item 10. PDF 126 KB
- EXE19-005 Treasury Management Strategy Appendix A Minimum Revenue Provision, item 10. PDF 60 KB
- EXE19-005 Treasury Management Strategy Appendix B Interest Rate Forecasts, item 10. PDF 88 KB
- EXE19-005 Treasury Management Strategy Appendix C Economic Background, item 10. PDF 89 KB
- EXE19-005 Treasury Management Strategy Appendix D Specified and Non Specified Investments, item 10. PDF 85 KB
- EXE19-005 Treasury Management Strategy Appendix E Approved Countries for Investments, item 10. PDF 45 KB
- EXE19-005 Treasury Management Strategy Appendix F Treasury Management Policy Statement, item 10. PDF 41 KB
- EXE19-005 Treasury Management Strategy Appendix G Treasury Management Scheme of Delegation, item 10. PDF 47 KB
- EXE19-005 Treasury Management Strategy Appendix H Treasury Management Role of the Section 151 Officer, item 10. PDF 46 KB
- EXE19-005 Treasury Management Strategy Appendix I Long Term Borrowing Maturity Profile, item 10. PDF 44 KB