Issue - meetings

Treasury Management Policy and Capital Strategy annual statutory review

Meeting: 01/02/2024 - Cabinet (Item 87)

87 Treasury Management Policy and Capital Strategy Annual Statutory Review pdf icon PDF 465 KB

To present the draft Treasury Management Strategy Statement for 2024/25 which incorporates the Annual Investment Strategy, Minimum Revenue Provision (MRP) Policy and Prudential and Treasury Indicators.

 

It is a legal obligation to set a Capital Strategy, which is also presented for review. This strategy provides the strategic framework for the treasury activity.

 

The 2024/25 draft documents do not suggest any major changes as compared to the approved ones for the current year.

 

Recommendation

 

That Cabinet recommends that Council:

 

i.         approves the Treasury Management Strategy Statement 2024/25 and the revised Minimum Revenue Provision policy contained within it,

ii.        approves the Annual Investment Strategy for 2024/25 and;

iii.       Approves the Capital Strategy 2024/25.

Additional documents:

Minutes:

To present the draft Treasury Management Strategy Statement for 2024/25 which incorporates the Annual Investment Strategy, Minimum Revenue Provision (MRP) Policy and Prudential and Treasury Indicators.

 

Members were reminded that it was a legal obligation to set a Capital Strategy, which was also presented for review. This strategy provided the strategic framework for the treasury activity.

 

The 2024/25 draft documents did not suggest any major changes as compared to the approved ones for the current year.

 

Members noted:

       there had previously been significant changes to the policy statements to update ESG assessment and credential-checking requirements

       Policy and practice had been robust in year, with quarterly reports to Overview and Scrutiny on treasury

 

Members questioned:

       Whether requiring ESG for our investments had any impact on fund managers to move money into best details.  It was confirmed that this was not the case as highly rated institutions on the whole had good ESGs.

 

Proposed by:  Cllr Neighbour; Seconded by:  Cllr Collins

 

Decision

 

Cabinet unanimously recommended that Council:

 

i.        approves the Treasury Management Strategy Statement 2024/25 and the revised Minimum Revenue Provision policy contained within it,

ii.        approves the Annual Investment Strategy for 2024/25 and;

iii.       approves the Capital Strategy 2024/25.

 

(Cllr Bailey left at 7.36pm)