Report of the Managing Director

The Managing Director submitted a report (previously circulated) which requested that Council adopt the Prudential Indicators and Limits for 2020/21 to 2022/23 relating to capital expenditure and Treasury Management activity, a policy statement relating to the Minimum Revenue Provision, and the Treasury Management Strategy 2020/21, which includes the Annual Investment Strategy for 2020/21.

The submitted report outlined the Council’s Prudential Indicators for 2020/21 – 2022/23 and set out the expected treasury operations for this period. It was stated that the report fulfilled key legislative and guidance requirements.

The information contained within the submitted report regarding the Council’s capital expenditure plans, treasury management and prudential borrowing activities indicated that they were within the statutory framework and consistent with the relevant codes of practice, prudent, affordable and sustainable, and an integral part of the Council’s Revenue and Capital Medium Term Financial Plans.

RESOLVED - (a) That the Prudential Indicators and limits for 2020/21 to 2022/23, as summarised in Tables 1 and 2 of the submitted report, be approved and adopted;

(b) That the Minimum Revenue Provision (MRP) statement, as detailed in paragraphs 35 to 39 of the submitted report, be approved and adopted;

(c) That the Treasury Management Strategy 2020/21 to 2022/23, as summarised in paragraphs 43 to 69 of the submitted report, be approved and adopted;

(d) That the Annual Investment Strategy 2020/21, as contained in paragraphs 70 to 109 of the submitted report, be approved and adopted.

REASONS - (a) To comply with the Prudential Code for Capital Finance in Local Authorities and the Ministry of Housing, Communities & Local Government (MHCLG) guidance on investments.

(b) To comply with the requirements of the Local Government Act 2003.

(c) To approve a framework for Officers to work within when making investment decisions.