Issue - meetings

Councillor Snowdon declared a prejudicial interest as he worked for Fitch Group who were the parent company of Fitch Ratings. He did not vote on this item.

Councillor Williamson, Deputy Leader and Executive Member for Financial Sustainability, submitted the Treasury Management and Annual Investment Strategy report to Council. He said that the council was required to provide three treasury reports each financial year and this was the first report. It covered the council’s capital plans including the prudential indicators, the minimum revenue provision policy and treasury management and investment strategies. A good treasury function ensures the council has the money to cover its daily operating costs and have longer term funding available to finance the capital projects.

Councillor Williamson proposed and Councillor Curtis seconded, a motion that the proposals be supported. A motion to support the recommendation having been proposed and seconded, was put to the meeting and a vote taken. The motion was declared CARRIED.

RESOLVED – that (A) The Treasury Management and Annual Investment Strategy 2021/22 at Appendix A is approved; and

(B) The Prudential Indicators at Appendix B are approved.

The Executive Member for Financial Sustainability submitted a report on the Council’s recommended Treasury Management and Annual Investment Strategy for 2021/22.

The Executive Member explained that the council is required to produce three treasury management reports for each financial year and this is the first report. It covers capital plans, prudential indicators, minimum revenue provision policy and treasury management and investment strategies. The treasury function ensures the council has the money available for its day to day operation costs and have the longer term funding available for the planned capital projects. Good treasury management is vital to effective functioning of the council and its activities. The strategy was considered by the Audit and Governance Committee with no amendments proposed.

There being no comments, Councillor Williamson proposed and Councillor Rutland-Barsby seconded a motion supporting the recommendations in the report. On being put to the meeting and a vote taken, the motion was declared CARRIED.

          RESOLVED – To recommend to Council that:

(a)            The Treasury Management and Annual Investment Strategy 2021/22 at Appendix A to this report is approved;

(b)            The Prudential Indicators at Appendix B are approved.

The Executive Member for Financial Sustainability briefly introduced the report and explained the main points.

The Chairman asked for further information about the training of Members and Officers. The Head of Strategic Finance and Property said that a number of Finance Officers would need training on the specifics of borrowing from the Public Works Loans Board (PWLB), which he would deliver.

The Scrutiny Officer said that the Member Development Group continued to meet quarterly to discuss Members’ training needs. There had been ongoing discussions about supplying Members with further scrutiny training and also the need to take a longer term view of Members’ training needs which could be established via a competency framework.

There were no suggested amendments or comments from Members for the Executive.

RESOLVED – that the report be received.