-
Decision details
Draft Treasury Management, Annual Investment Strategy and Capital Strategy 2023/24
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decision:
Cabinet recommends full Council that:
A. The Council approve the Treasury Management Strategy, Minimum Revenue
Provision (MRP) Policy, Annual investment Strategy and the Capital Strategy.
B. The strategies listed are updated as necessary during 2023/24 in the light of
changing and emerging risks and the Council’s evolving future expenditure plans
Reasons:
1. The Council seeks to minimise the costs of borrowing and maximise investment income whilst ensuring the security of its investments. The Council continues to make substantial investments in property, housing and energy generation initiatives, and this will continue to involve the Council in taking on additional borrowing.
2. The sums involved are significant and the assumptions made play an important part in determining the annual budget. The CIPFA Treasury Management Code of Practice, previously adopted by the Council, has been revised to take account of the more commercialised approach being adopted by councils and the enhanced levels of transparency required. The Code has represented best practice and helps ensure
compliance with statutory requirements.
3. The Council has the ability to diversify its investments and must consider carefully the level of risk against reward against a background of historically very low interest rates. Investments can help to close the gap in the budget in the years ahead and thus help to preserve services, assist in the regeneration of the town, provide additional housing and enhance the long-term sustainability of the town. However, over reliance on such income streams would involve taking unnecessary risks with the future of the Council and its ability to deliver statutory services.
Publication date: 31/01/2023
Date of decision: 30/01/2023
Decided at meeting: 30/01/2023 - Cabinet
Accompanying Documents:
-
My council
Contact
Contact us if you have a question about democratic services.
Content
The content on this page is the responsibility of our Democratic Services team.