Issue - meetings

The Cabinet considered a report on the Treasury Management Strategy Statement and Investment Strategy 2012/13 to 2014/15. It was noted these were required to ensure that the Authority could demonstrate accountability and effectiveness in the management of its funds.

RECOMMENDED:

(a)       that the Treasury Management Strategy Statement and Investment Strategy 2012/13 to 2014/15 and Prudential Indicators set out in Appendix 1 be approved;

(b)       that the Authorised Limit for borrowing at £7,500,000 if required be approved;

(c)        that the maximum level of investment to be held within each organisation (i.e. Bank or Building Society) be set as detailed at £3,000,000 subject to market conditions;

(d)       that the unlimited level for investment in Debt Management Account Deposit facility be approved; and

(e)       that the Treasury Management Policy as set out in Appendix 2 be approved. 

RESOLVED:

(a)       that it be noted that training for Treasury Management has been identified and will be incorporated within the Modern Councillor Programme on the basis it is to be prioritised together with other training needs; and

(b)       that it be noted that the Audit Board will be undertaking additional scrutiny of the Strategy during 2012/13 to ensure that the Council’s investments are being managed in a risk controlled environment