Decision details

Treasury management and investment strategy 2023/24

Decision Maker: Joint Audit and Governance Committee, Cabinet, Council

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No


Purpose: to recommend Council to adopt the strategy


Cabinet considered the head of finance’s report on a draft treasury management and investment strategy for 2023/24.  This set out how the council’s treasury service would support the financing of capital investment decisions, and how treasury management operated day to day.  The strategy also set out the prudential indicators, providing limits within which the treasury function must operate. 


The Cabinet member for finance highlighted that the proposed strategy for 2023/24 included the following changes,which Cabinet was asked to recommend to Council:

·       amendments to individual maximum counterparty limits, increasing the limits for LVNAV &VNAV Money Market Funds to £30 million

·       amendments to the minimum lending criteria - an increase in the minimum asset value criteria for non-rated building societies from assets over £1 billion to assets over £2 billion 


Cabinet noted that the Joint Audit and Governance Committee had supported the draft strategy and had recommended it to Cabinet, along with approving the prudential indicators and limits, and approving the annual investment strategy and lending criteria. 


Cabinet supported the proposed changes to the strategy. 


RECOMMENDED to Council to:


(a)       approve the treasury management strategy 2023/24, as set out in appendix A to the head of finance’s report to Cabinet on 2 February 2023;


(b)       approve the prudential indicators and limits for 2023/24 to 2025/26, as set out in appendix A to the report; and


(c)        approve the annual investment strategy 2023/24, as set out in appendix A to the report,and the lending criteria detailed in the amended table 6 to appendix A of the report. 

Report author: Donna Ross

Publication date: 13/02/2023

Date of decision: 02/02/2023

Decided at meeting: 02/02/2023 - Cabinet

Accompanying Documents: