Issue - meetings
Treasury Management Strategy and Annual Investment Strategy
Meeting: 07/02/2019 - Cabinet (Item 148)
148 Treasury Management Strategy and Annual Investment Strategy (1-06-16) 
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To receive a report of the Deputy Chief Executive (S151) proposing the Treasury Management Strategy and Annual Investment Strategy for 2019/20.
Minutes:
The Cabinet had before it a *report of Deputy Chief Executive (S151) requesting that Council approve the proposed Treasury Management Strategy and Annual Investment Strategy for 2019/20.
The Cabinet Member for Finance outlined the contents of the report stating that the Council was required to set a balanced budget and due to the reduction in Government funding there was a need to look at other ways of creating income and that any investment and borrowing had to be prudent and sensible. The strategy set out how the authority’s proposals for future financial matters.
RECOMMENDED to Councilthat:
a) the proposed Treasury Management Strategy and Annual Investment Strategy for 2019/20 be approved.
b) The prudential indicators for the next 3 years be approved.
c) The Minimum Revenue Provision Statement (Appendix 1),be approved.
d) Funds loaned to subsidiaries do not have to be constrained to capital purposes to be approved.
e) The following options be approved:
Option 1 : Increase the investment terms to 2 years for banks to obtain higher interest rates and returns
Option 2; Diversify the investment portfolio to include non-UK banks with a minimum Sovereign Fitch rating of AAA which will potentially negate the effects of Brexit post 29 March 2019.
Option 3: Diversify the borrowing portfolio to include short term loans (maximum 5 years) from other Local Authorities, Banks and Building Societies
(Proposed by Cllr P H D Hare-Scott and seconded by Cllr Mrs M E Squires)
Notes:
i) Cllr C J Eginton declared a personal interest as he received a pension from Lloyds Banking Group;
ii) *Report previously circulated, copy attached to minutes.