Issue - meetings

The Cabinet considered a strategy statement for the treasury management and investments in relation to the Council required for compliance with the Local Government Act 2003 and to ensure the Council demonstrated accountability and effectiveness in the management side of its funds.

RECOMMENDED:

(a)       that the Strategy and Prudential Indicators shown at Appendices A and B to the report be approved and adopted;

(b)       that the Authorised Limit for borrowing be set at £6m as required by the Chartered Institute of Public Finance and Accountancy (CIPFA), that being the same as the Affordable Borrowing Limit required by section 3(1) of the Local Government Act 2003; and

(c)        that the maximum level of investment to be held within each organisation (i.e. bank or building society) as detailed be set at £3m.