Decision details

B Recommendation of Treasury Strategy 2010 – 2013 to Council for approval

1.      Cabinet is to recommend to Council that they approve:

a.      The adoption of the revised CIPFA Treasury Management in the Public Services; Code of Practice and Cross Sectoral Guidance Notes (Fully revised second edition 2009)

b.      The replacement of existing paragraph 5.9 of the Council’s Financial Regulations with the wording at Annex A of the Cabinet report

c.      The Treasury Management Policy Statement at Annex B of the Cabinet report

d.      The Treasury Management Practices (TMPs) and TMP Schedules for 2010-11 at Annex C of the Cabinet report

e.      The Treasury Strategy for 2010-11 at Annex D of the Cabinet report, incorporating:

(i)                 The Capital Financing and Borrowing Strategy for 2010-11 including:

·        The Council’s policy on the making of Minimum Revenue Provision (MRP) for the repayment of debt, as required by the Local Authorities (Capital Finance & Accounting) (Amendments) (England) Regulations 2008.

·        The Affordable Borrowing Limit for 2010-11 as required by the Local Government Act 2003.

(ii)               The Investment Strategy for 2010-11 as required by the CLG (formerly ODPM) Guidance on Local Government Investments issued in 2004.

2.      Cabinet is to recommend to Council that they note:

a.      The proposed Debt Financing Budget 2010-11 to 2011-12 (paragraph 3.2.15 and Annex F of the Cabinet report).

b.      Adherence to the Council’s policy on reserves and balances (paragraph 3.2.16 of the Cabinet report).

c.      Compliance with the requirement under the Local Government Finance Act 1992 to produce a balanced budget (paragraph 3.2.17 & 3.2.18 of the Cabinet report).