Issue - meetings

To consider the proposed 2013/14 Treasury Management Strategy Statement, incorporating the Minimum Revenue Provision Policy Statement, Investment Strategy and Prudential and Treasury Indicators 2013/16, required under Part 1 of the Local Government Act 2003.

The Committee considered the proposed 2013/14 Treasury Management Strategy Statement, incorporating the Minimum Revenue Provision Policy Statement, Investment Strategy and Prudential and Treasury Indicators 2013/16, as required under Part 1 of the Local Government Act 2003.

The Treasury Management Strategy would also be reported to Cabinet before being presented to Council for approval on 28^th February 2013.

A comprehensive review of the capital programme had been undertaken in 2012/13 with the intention of making substantial savings and focussing on initiatives with the highest priority. The key aim had been to realign capital expenditure with corporate priorities; cap the cost of financing the capital programme by reducing the need for future borrowing; create financial and non-financial capacity to enable new schemes to come forward; and reassess business cases, particularly for investment projects.

A balance sheet efficiency review had also been undertaken with the Council’s treasury advisors, Arlingclose, to establish the most cost-effective method of financing the capital programme and make adequate provision for the repayment of debt in future years. The methodology for applying capital receipts to finance capital expenditure had also been considered as part of the review.

Within the Treasury Management Strategy, the Council would continue to minimise borrowing by making use of internal balances.

RESOLVED

That the Treasury Management Strategy and Minimum Revenue Provision Statement for 2013/14 as set out in Appendix A to the report be noted.