Decision details

Prudential Indicator & Treasury Management Strategy 2023/24

Decision Maker: Cabinet Executive

Decision status: Recommendations approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

This report lays down the guidelines and rules that Officers are required to follow when making decisions to borrow or when investing Council funds. Such decisions are made on a daily basis under delegated authority. The report outlines the Council’s prudential indicators for 2022/23 to 2026/27 and sets out the expected treasury management activities for that period. The report also sets out the financial institutions the Council may invest in, the maximum investment level and the periods over which the investments can be made.

Decision:

RECOMMENDATIONS TO COUNCIL

 

1.    That the capital prudential indicators and limits for 2023/24 to 2027/28 be approved.

 

2.    That the Treasury Management Strategy for 2023/24 to 2027/28 and the treasury prudential indicators be approved.

 

3.    That the Investment Strategy for 2023/24 be approved.

 

4.    That the Minimum Revenue Provision (MRP) Statement for 2023/24 be approved.

 

Reasons:

 

1.    The Local Government Act 2003 and supporting regulations requires the Council to “have regard to” the CIPFA Prudential Code and the CIPFA Treasury Management Code of Practice to set Prudential and Treasury Indicators for the next three years to ensure that the Council’s capital investment plans are affordable, prudent, and sustainable.

 

2.    The Act requires the Council to set out its treasury strategy for borrowing and to prepare an Annual Investment Strategy. This covers the Council’s criteria for choosing investment counterparties and limiting exposure to the risk of loss.

 

3.    The Act also requires the Council to undertake an annual review of its policy for calculating the minimum revenue provision (MRP) for repayment of external debt.

Report author: Nick Brown

Publication date: 20/02/2023

Date of decision: 20/02/2023

Decided at meeting: 20/02/2023 - Cabinet Executive

Accompanying Documents: