Issue - meetings

To consider a report of the Deputy Chief Executive(S151) requesting approval of the proposed Treasury Management Strategy and Annual Investment Strategy for 2021/22.

The Cabinet had before it a *report of the Deputy Chief Executive (S151) requesting approval of the proposed Treasury Management Strategy and Annual Investment Strategy for 2021/22.

The Cabinet Member for Finance outlined the contents of the report stating that the Council was required to operate a balanced budget which meant that cash raised during the year would meet cash expenditure; part of the treasury management operation was to ensure that cash flow was adequately planned with cash being available when it was needed and surplus monies invested.  The counterparty limits set out in the report were to enable the continued administration of Covid-19 grants to businesses and to allow for the administration of future emergency grants as required.

The Deputy Chief Executive (S151) stated that the strategy was heavily prescribed by CIPFA with regard to whom monies could be lent to and that there was always a focus on the security of any investment.

Consideration was given to the acronyms within the report and an explanation of those and different types of credit ratings.

(Proposed by Cllr B A Moore and seconded by Cllr C R Slade)

Reason for decision – there is a need for the Council to approve the Treasury Management Strategy and Annual Investment Strategy for 2021/22.

Note:  *Report previously circulated, copy attached to minutes