Purpose

The Annual Treasury Management Strategy Statement sets out the Council’s strategy for ensuring thatits capital investment plans are prudent, affordable and sustainable, and itscash balances are appropriately invested to generate optimum returns having regard to security and liquidity of capital.

Decision

Cabinet approved the following recommendations to Full Council for consideration at its meeting on 6 March 2024:

• Approve the Treasury Management Strategy Statement
• Approve the borrowing strategy and borrowing limits for 2024/25 to 2028/29
• Approve the Prudential Indicators
• Approve the Annual Investment Strategy and approved investments
• Approve the Minimum Revenue Provision Policy set out in Appendix 2;
• Approve the delegation of authority to the Executive Director of Finance and Resources to proceed with:
  • the obtaining of a credit rating as set out in the report; and
  • to appoint Link Group, a Treasury consultant, for the purposes of obtaining that rating.

Reasons for Decision

The Treasury Management Strategy Statement is an annual report which complies with the Local Government Act 2003, other regulations, and guidance and to ensure that the Council’s borrowing and investment plans are prudent, affordable and sustainable and comply with statutory requirements.