Issue - meetings

Cabinet, at its meeting on 30 January 2020, considered a report on the council’s treasury management and investment strategy for 2020/21.

The Joint Audit and Governance Committee considered the report at its meeting on 27 January 2020 and had not recommended any adjustments to the strategy. 

The committee resolved to recommend Cabinet to approve the treasury management strategy, the prudential indicators and limits for 2020/21 to 2022/23 and the annual investment strategy 2020/21 as set out in the report.

The report of the interim head of finance, which Cabinet considered on 30 January 2020, is attached.

RECOMMENDATION TO COUNCIL to:

1.    approve the treasury management strategy 2020/21, set out in appendix A to the interim head of finance’s report to Cabinet on 30 January 2020; 

2.    approve the prudential indicators and limits for 2020/21 to 2022/23, as set out in appendix A to the interim head of finance’s report; and 

3.    approve the annual investment strategy 2020/21, set out in appendix A (paragraphs 41 to 82) to the interim head of finance’s report, and the lending criteria detailed in table 5 to that report. 

Council considered Cabinet’s recommendation, made at its meeting on 30 January 2020, on the council’s treasury management and investment strategy for 2020/21.

The Joint Audit and Governance Committee had considered the report at its meeting on 27 January 2020 and had not recommendedany adjustments to the strategy and resolved to recommend Cabinet to approve the treasury management strategy, the prudential indicators and limits for 2020/21 to 2022/23 and the annual investment strategy 2020/21 as set out in the report. Cabinet agreed to recommend Council approve the strategy. 

RESOLVED: to

1. approve the treasury management strategy 2020/21, set out in appendix A to the interim head of finance’s report to Cabinet on 30 January 2020; 

2. approve the prudential indicators and limits for 2020/21 to 2022/23, as set out in appendix A to the interim head of finance’s report; and 

3. approve the annual investment strategy 2020/21, set out in appendix A (paragraphs 41 to 82) to the interim head of finance’s report, and the lending criteria detailed in table 5 to that report.

To consider the head of finance’s report. 

Cabinet considered the interim head of finance’s report on the proposed treasury management and investment strategy for South Oxfordshire in 2020/21.  The strategy included the changes to the counterparty limits discussed under the previous minute. 

It was noted that the council’s treasury management investments were governed by the Chartered Institute of Public Finance and Accountancy’s code.  Any change to the types of investments would need to be part of a review for 2021/22 strategy. 

RECOMMENDED to Council to:

(a)      approve the treasury management strategy 2020/21, set out in appendix A to the interim head of finance’s report to Cabinet on 30 January 2020; 

(b)      approve the prudential indicators and limits for 2020/21 to 2022/23, as set out in appendix A to the interim head of finance’s report; and 

(c)       approve the annual investment strategy 2020/21, set out in appendix A (paragraphs 41 to 82) to the interim head of finance’s report, and the lending criteria detailed in table 5 to that report.