Issue - meetings

To consider a report of the Executive Councillor (Corporate, Customer & Community Services).

The Deputy Leader of the Council (Corporate, Customer & Community Services) (Councillor Iain Roberts) submitted a report (copies of which had been circulated) inviting the Council Meeting to consider the Treasury Management Strategy Statement, the Annual Investment Strategy and the Minimum Revenue Provision Policy 2015/16.

RESOLVED – (58 for, 1 abstention) That approval be given to:-

·         The Minimum Revenue Provision Policy for 2015/16;

·         The Capital Expenditure Forecasts and Capital Financing Requirement projections;

·         The Treasury Management Strategy 2015/16;

·         The Treasury and Prudential Indicators and limits 2015/16-2017/18;

·         The Annual Investment Strategy 2015/16.

The names of those councillors voting on this resolution were recorded as follows:-

Those councillors who voted for the resolution were:-

The Mayor (Councillor Kevin Hogg); The Deputy Mayor (Councillor Linda Holt); Councillors Geoff Abell, Ben Alexander, Shan Alexander, Brian Bagnall, Sheila Bailey, Paul Bellis, Andrew Bispham, Stuart Bodsworth, Laura Booth, Walter Brett, Peter Burns, Kate Butler, Martin Candler, Richard Coaton, Sue Derbyshire, Kevin Dowling, Dean Fitzpatrick, Colin Foster, Alexander Ganotis, Lord Goddard, Chris Gordon, Lenny Grice, Tom Grundy, Philip Harding, Daniel Hawthorne, Brian Hendley, Keith Holloway, Sylvia Humphreys, Sue Ingham, Oliver Johnstone, Pam King, Mags Kirkham, Hazel Lees, Syd Lloyd, Patrick McAuley, John McGahan, Tom McGee, Wendy Meikle, Chris Murphy,  Adrian Nottingham, Wendy Orrell, John Pantall, Paul Porgess, Iain Roberts, Maureen Rowles, June Somekh, John Taylor, Andrew Verdeille, Alanna Vine, Lisa Walker, Wendy Wild, David Wilson, Elise Wilson William Wragg, John Wright and Suzanne Wyatt.

The Councillor who abstained was Councillor Paul Moss.

To consider a report of the Executive Councillor (Corporate, Customer & Community Services)

This comprehensive report proposes the 2015/16 Treasury Management Strategy, Annual Investment Strategy, Minimum Revenue Provision Policy and prudent and sustainable Treasury and Prudential Indicators, which are constructed in compliance with the CIPFA Treasury Management Code of Practice.

The views of the Corporate, Resource and Governance Scrutiny Committee were sought and any opinions or suggestions made have been taken into account when formulating the Council's Treasury Management Strategies for 2015/16.

The first part of the report details the Council’s Capital expenditure plans which are a key driver to the long-term borrowing aspect of treasury management activity and strategy; these are reflected in a number of prudential and treasury indicators. 

The report goes on to show how capital funded by prudential borrowing is subsequently charged to revenue in the Minimum Revenue Provision (MRP) Policy Statement.

Fundamentals of the Council’s investment policy, approach to creditworthiness and investment strategies for 2015/16 are included in the Annual Investment Strategy statement.

The report provides an economic commentary and interest rate forecast, detailing likely scenarios for the economy and financial markets in 2015/16. 

A key highlights report is provided which summarises the main points of the more comprehensive report.

An Equalities Impact Assessment has been carried out on the Treasury Management Strategy; this is included at Appendix Seven.

The Executive is asked to recommend that the Council Meeting approves

•   The Minimum Revenue Provision Policy for 2015/16;

•   The Capital Expenditure Forecasts and Capital Financing Requirement projections;

•   The Treasury Management Strategy 2015/16;

•   The Treasury and Prudential Indicators and Limits 2015/16-2017/18;

•   The Annual Investment Strategy (AIS) 2014/15.

Officer contact: Lorna Soufian, 0161 474 4026, lorna.soufian@stockport.gov.uk

The Executive Councillor (Corporate, Customer & Community Services) submitted a report (copies of which had been circulated) inviting the Executive to consider the proposed 2015/16 Treasury Management Strategy, Annual Investment Strategy, Revised Minimum Revenue Provision Policy and prudential and sustainable Treasury and Prudential Indicators constructed in compliance with the CIPFA Treasury Management Code of Practice.

On behalf of the Executive the Leader of the Council paid tribute to officers involved with treasury management for their strong stewardship of Council resources.

RESOLVED – That in relation to the Treasury Management Strategy, Annual Investment Strategy and Revised Minimum Revenue Provision Policy the Council Meeting be recommended to approve:-

·         the Minimum Revenue Provision Policy for 2015/16;

·         the Capital Expenditure Forecasts and Capital Financing Requirement projections;

·         the Treasury Management Strategy 2015/16;

·         the Treasury and Prudential Indicators and Limits 2015/16-2017/18; and

·         the Annual Investment Strategy (AIS) 2014/15.