This report sets out the Treasury Management Strategy Statement & Policy, Minimum Revenue Provision Policy and Annual Investment Strategy for recommendation to Full Council.

(Items 73-75 were considered together for recommendation to the full Council meeting on 23 February 2022.)

The Director of Finance submitted a report setting out a Treasury Management Strategy for endorsement and recommendation to full Council.  The Strategy required approval before the start of the new financial year in accordance with the Chartered Institute of Public Finance and Accountancy’s Treasury Management in the Public Services: Code of Practice 2017 and the CIPFA Prudential and Treasury Management Code 2017.  The Treasury Management Strategy Statement (TMSS) was attached to the report at Appendix A.

The report explained that the TMSS set out the parameters for the Council’s planned treasury activity during 2022/23 under which the Council’s Treasury Team would manage day to day activity, and that the successful identification, monitoring and control of financial risk were central to the Strategy.  Included in the TMSS alongside the Treasury Management Strategy were Capital Prudential Indicators, a Minimum Revenue Provision (MRP) Policy Statement, a Borrowing Strategy and an Annual Investment Strategy. 

The CIPFA 2017 Prudential and Treasury Management Code also required the Council to prepare a Capital Strategy report which set out the Council’s capital requirements arising from policy objectives, as well as the associated governance procedures and risk appetite.  The Capital Strategy included non-treasury investments and was reported separately from the TMSS (Minute 74 above refers).  The TMSS reflected the Council’s Draft Capital Programme 2022/23 – 2024/25.

Resolved –

That Policy Committee endorse and recommend to Full Council for approval:

a)    The Treasury Management Strategy Statement for 2022/23 as set out in Appendix A;

b)    The Treasury Management Policy for 2022/23 as set out in Appendix A;

c)    The Minimum Revenue Provision (MRP) Policy for 2022/23 as set out in Appendix A;

d)    The Annual Investment Strategy for 2022/23 as set out in Appendix A; and

e)     The Prudential and Treasury Management indicators as set out in Appendix A.