Decision details

Treasury Management Strategy and Annual Investment Strategy Mid-Year Review Report 2016/17

Decision Maker: Executive

Decision status: Recommendations approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report provides a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2016/17, approved by Council on 3 March 2016, and has been prepared in accordance with the CIPFA Code of Practice for Treasury Management in the Public Services.

Decision:

The Executive considered a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2016/17 and recommended to the Council Meeting that it receive this report in line with best practice guidelines and

 

·           note the report and the treasury activity in the first half of the financial year, and

·           note the revised interest rate forecasts for PWLB rates over the short and medium term which will drive the Council’s long-term borrowing strategies going forward and also those for the UK Bank Rate which have reduced budgeted investment earnings rates for 2016/17 and future years.

 

Alternative options considered:

None

Reason Key: Policy Framework & Budget;

Wards Affected: (All Wards);

Equality and/or Environmental Impact Assessment: An EIA has not been undertaken, as this is an update on the initial Strategy Report that went to Council in March 2016. The initial report included a full EIA as the Treasury Management Strategy, Annual Investment Strategy and Minimum Revenue Provision Policy 2016/17 (TMS, AIS & MRPP) is a key strategic policy of the Council

Decision Reference: ED1856

Declarations or conflicts of Interest: None

Forward Plan Reference: LDR45

Other reasons / organisations consulted

Consultation on the Strategy was undertaken in December 2016 at the meeting of the Corporate, Resource, Management and Governance Scrutiny Committee and where Members also received training on treasury management matters.

Contact: Jonathan Davies, Corporate and Support Services Email: jonathan.davies@stockport.gov.uk Tel: 218 1025.

Report author: Lorna Soufian

Publication date: 16/11/2016

Date of decision: 15/11/2016

Decided at meeting: 15/11/2016 - Executive

Effective from: 23/11/2016

Accompanying Documents: