Issue - meetings

To consider the head of finance’s report. 

Cabinet considered the head of finance’s report that presented the treasury management and investment strategy for 2014/15.  This recommended:

• raising the authorised limit and operational boundary for borrowing by £20 million in order to enable the council to borrow £20 million for infrastructure works in support of the Science Vale UK Enterprise Zone 
• the council should not borrow more than or in advance of its needs purely to profit by investing the sums borrowed   
• inserting a minimum revenue provision to match repayments and funding from the local enterprise partnership business rate growth to neutralise impact on local taxation

Cabinet supported the changes to the strategy. 

RECOMMENDED: to Council to

(a)               approve the treasury management strategy 2014/15;

(b)               approve the prudential indicators and limits for 2014/15 to 2016/17 as set out in table 2, appendix A to the head of finance’s report; and

(c)               approve the annual investment strategy 2014/15 set out in appendix A and the lending criteria detailed in table 5 to the head of finance’s report.