Agenda item

That the Treasury Management Strategy for 2018/19 be approved.

The Director of Finance & Resources summarised the Treasury Management Strategy 2018/19 which the Cabinet was asked to recommend to full Council on 22^nd February 2018.  The draft strategy had been considered by the Overview & Scrutiny Committee on 1^st February 2018 and no recommendations or proposed amendments had been made to Cabinet.

The Council had £289.841m of borrowing and an average investment balance of £50.714m throughout the year.  The total debt for 2018/19 was expected to be £424m which was within the recommended limit in the CIPFA prudential code.  The borrowing was supporting a wide range of investments set out in more detail in the capital strategy.  The Council also had a number of non-treasury assets in the £50m strategic acquisition fund which helped generate strong revenue returns.

The borrowing strategy was discussed and it was noted that very low rates were being secured from other authorities.  The Council’s advisors, Arlingclose, were forecasting that interest rates would be held in the medium term.  The Cabinet discussed the investment strategy and it was noted that a diverse portfolio of investments were made to balance risk including property funds, balances and loan notes to Slough Urban Renewal.

At the conclusion of the discussion, it was agreed to recommend the Treasury Management Strategy 2018/19 to full Council.

Recommended –  That the Treasury Management Strategy for 2018/19 be approved.