Issue - meetings

Treasury management strategy 2022/23 - to review the strategy and recommend it to Council

Meeting: 16/02/2022 - Council (Item 92)

92 Treasury management and investment strategy 2022/23 pdf icon PDF 914 KB

Cabinet, at its meeting on 4 February 2022, considered the attached report of the head of finance on the council’s treasury management and investment strategy for 2022/23.

 

The Joint Audit and Governance Committee considered the report at its meeting on 25 January 2022 and had not recommended any adjustments to the strategy recommending approval of the strategy. 

 

RECOMMENDATION: to

 

1.    approve the treasury management strategy 2022/23 set out in appendix A to the head of finance’s report to Cabinet on 4 February 2022;

2.    approve the prudential indicators and limits for 2022/23 to 2024/25 as set out in, appendix A to the report; and

3.     approve the annual investment strategy 2022/23 set out in appendix A to the report,and the lending criteria detailed in table 6.

 

 

Minutes:

Council considered Cabinet’s recommendation, made at its meeting on 4 February 2022, on the council’s treasury management and investment strategy for 2022/23.

 

Councillor Crawford, Cabinet member for finance, reported that several changes were proposed to the strategy, designed to widen the scope of the available instruments the council can invest in with the aim of achieving an increase in yield whilst still maintaining the primacy of security and liquidity in determining where to place the council’s investments. 

 

The Joint Audit and Governance Committee had considered the report at its meeting on 25 January 2022 and had not recommended any adjustments to the strategy and resolved to recommend Cabinet to approve the treasury management strategy, the prudential indicators and limits for 2022/23 to 2024/25 and the annual investment strategy 2022/23 as set out in the report. 

 

Cabinet agreed to recommend Council to approve the strategy. 

 

RESOLVED: to

 

1.    approve the treasury management strategy 2022/23 set out in appendix A to the head of finance’s report to Cabinet on 4 February 2022;

2.    approve the prudential indicators and limits for 2022/23 to 2024/25 as set out in, appendix A to the report; and

3.     approve the annual investment strategy 2022/23 set out in appendix A to the report,and the lending criteria detailed in table 6.

 


Meeting: 04/02/2022 - Cabinet (Item 84)

84 Treasury management and investment strategy 2022/23 pdf icon PDF 914 KB

To consider the head of finance’s report. 

Minutes:

Cabinet considered the head of finance’s report regarding a treasury management and investment strategy for 2022/23.  The Cabinet member for finance reported that several changes were proposed to the strategy, including increases to counterparty limits and bonds, increases to local authority and government deposits, an increase to portfolio limits for short-term deposits, reducing maturity limits for local authority deposits, removing the non-treasury management property-related investment category, enabling deposits with foreign financial institutions, and increasing variable interest rate exposure prudential indicator limits. 

 

The Joint Audit and Governance Committee had supported the revised strategy.  Cabinet concurred as the revised strategy would allow the council greater flexibility with its treasury management investments. 

 

RECOMMENDED to Council to:

 

(a)       approve the treasury management strategy 2022/23 set out in appendix A to the head of finance’s report to Cabinet on 4 February 2022;

 

(b)       approve the prudential indicators and limits for 2022/23 to 2024/25 as set out in, appendix A to the report; and

 

(c)        approve the annual investment strategy 2022/23 set out in appendix A to the report,and the lending criteria detailed in table 6.


 

Contact us - Democratic services

Phone icon

01235 422520
(Text phone users add 18001 before dialing)

Address icon

Vale of White Horse District Council
Abbey House, Abbey Close,
Abingdon
OX14 3JE