Issue - meetings

The Cabinet considered a report on the Treasury Management Strategy Statement and Investment Strategy 2012/13 to 2013/14. It was noted that approval of the Strategy Statement was required under the Local Government Act 2003.

RECOMMENDED:

(a)       that the Treasury Management Strategy Statement and Investment Strategy 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 an 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  that it be noted that the Audit Board will undertake additional scrutiny of the Strategy during 2013/12 to ensure the Council’s investments are being managed in a risk controlled environment.