Agenda item
Treasury Management Strategy Statement 2022/23, including Borrowing Limits and Annual Investment Strategy
- Meeting of Executive, Wednesday, 16th February, 2022 2.00 pm (Item 26.)
- View the background to item 26.
Report of the Deputy Chief Executive and City Treasurer attached
Minutes:
The Executive considered a report of the Deputy Chief Executive and City Treasurer, which set out the proposed Treasury Management Strategy Statement and Borrowing Limits for 2022/23 and Prudential Indicators for 2022/23 to 2024/25.
The Treasury Management Strategy Statement set out the risk framework under which the Council’s treasury management function would operate by detailing the investment and debt instruments to be used during the year the Strategy detailed the risk appetite of the Authority and how those risks would be managed.
The suggested strategy for 2022/23 was based upon the treasury officers’ views on interest rates, supplemented with The forecasts provided by the Council’s treasury advisor, Link Asset Services. The strategy covered:-
· Prudential and Treasury Indicators for 2022/23 to 2024/25;
· Impact of 2012 HRA reform;
· Current Portfolio Position;
· Prospects for Interest Rates;
· Borrowing Requirement;
· Borrowing Strategy; and
· Annual Investment Strategy.
The Executive noted the proposed Annual Investment and Borrowing Strategies set out in the report, and agreed to commend them to the Council.
Decisions
The Executive:-
(1) Recommends the report to Council.
(2) Delegates authority to the Deputy Chief Executive and City Treasurer, in consultation with the Member of the Executive with responsibility for Finance and HR, to approve changes to the borrowing figures as a result of changes to the Council’s Capital or Revenue budget and submit these changes to Council.
Supporting documents:
- Treasury Management Strategy Statement 2022-23, item 26. PDF 469 KB
- Appendix A - Prudential and Treasury Indicators for approval, item 26. PDF 142 KB
- Appendix B - Minimum Revenue Provision Strategy, item 26. PDF 223 KB
- Appendix C – Treasury Management Policy Statement, item 26. PDF 175 KB
- Appendix D – Treasury Management Scheme of Delegation, item 26. PDF 252 KB
- Appendix E – The Treasury Management role of the Section 151 Officer, item 26. PDF 170 KB
- Appendix F – Economic Background January 2022 – Link Asset Services, item 26. PDF 279 KB
- Appendix G – Interest Rate Forecasts 2021–25, item 26. PDF 96 KB
- Appendix H – Glossary of Terms, item 26. PDF 193 KB
- Appendix I – Treasury Management Implications of HRA Reform, item 26. PDF 371 KB