Agenda item

Treasury Management Strategy 2022/23

Decision:

The Cabinet agreed to recommend to Council the following:

 

a.  Approve the Treasury Management Strategy (TMS) for 2022/23 including:

 

i.  the Annual Investment Strategy for 2022/23 (Appendix 2)

ii.  Minimum Revenue Provision Policy Statement for 2022/23 (Appendix 1)

iii.  the Prudential Indicators for the period 2022/23 to 2024/25 (Section 4)

 

b.  Agree that the MRP policy as set out in the TMS for 2022/23 shall also apply for the financial year 2021/22.

Minutes:

The Cabinet considered the Treasury Management Strategy 2022/23 which was now fully aligned with the capital programme.

 

The Lead Member commented that it demonstrated the plan to reduce borrowing and that a prudent approach had been taken with regards to capital receipts so it may be possible to bring borrowing costs down more quickly.  The Council still held a significant amount of short term debt and whilst there was a risk that rising interest rates would make future borrowing more expensive it also provided an opportunity to repay this debt without early exit costs that longer term would have as capital receipts were generated.

 

At the conclusion of the discussion the Cabinet agreed to recommend approval of the Treasury Management Strategy to Council.

 

Recommended to Council –

 

The Cabinet agreed to recommend the following to full Council:

 

a.  Approval of the Treasury Management Strategy (TMS) for 2022/23 including:

 

i.  the Annual Investment Strategy for 2022/23 (Appendix 2)

ii.  Minimum Revenue Provision Policy Statement for 2022/23 (Appendix 1)

iii.  the Prudential Indicators for the period 2022/23 to 2024/25 (Section 4)

 

b.  Agreed that the MRP policy as set out in the TMS for 2022/23 should also apply for the financial year 2021/22.

Supporting documents: