Issue - meetings

To consider the head of finance’s report. 

The committee 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 agenda item. 

It was noted that although the joint committee often considered reports and made decisions affecting just one council, only South Oxfordshire councillors could vote on South Oxfordshire-only matters and only Vale councillors could vote on the Vale-only matters.  The committee asked that this was clarified in the Constitution. 

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. 

RESOLVED to recommend Cabinet to:

(a)      approve the South Oxfordshire treasury management strategy 2020/21, as set out in Appendix A of the interim head of finance’s report;

(b)      approve the South Oxfordshire prudential indicators and limits for 2020/21 to 2022/23, as set out in Appendix A to the report; and

(c)       approve the South Oxfordshire annual investment strategy 2020/21, as set out in paragraphs 40 to 81 of Appendix A to the report, and the lending criteria detailed in table 5 of the report.