Decision details

To consider any issues required for the preparation of the three year financial plan, including Government grant announcements, financial pressures and service changes.

The Cabinet considered the report of the Head of Corporate Finance and ICT which provided details of the proposed procedures and strategy to be adopted in respect of the Council’s Treasury Management Function in 2015/16.

The Head of Corporate Finance and ICT referred to the proactive work undertaken by the Treasury Management Team which had enabled reductions in debt management costs of over £3m to be achieved in the last three years.

Decision Made:

That the Council be recommended to give approval to:

(1)       the Treasury Management Policy Document for 2015/16 as set out in Annex A of the report;

(2)       the Treasury Management Strategy Document for 2015/16 as set out in Annex B of the report;

(3)       the amendment to the Banking arrangements contained within the Financial Procedure Rules of the Constitution, as referred to in paragraph 3 and Annex A of the report; and

(4)       the basis to be used in the calculation of the Minimum Revenue Provision for Debt Repayment in 2015/16.

Reasons for Decision:

To enable the Council to effectively manage its treasury activities.

Alternative Options considered and Rejected:

None