Issue - meetings

To consider the report of the Director of Resources (copy enclosed).

The Committee considered the report of the Director of Resources seeking Members’ approval of an annual Capital Strategy (attached as Appendix 1 to the report) and Investment Strategy (attached as Appendix 2 to the report) for 2019 / 20.

It was reported that the Capital Strategy had been prepared considering the future plans of the Council, ensuring that they were affordable and prudent.  The Annual Investment Strategy had been updated in line with statutory requirements and good practice, having regard to the Council’s financial position, links to wider strategies, plans and aims and the advice of the Council’s external treasury advisor.  There were no changes to the Council’s treasury management practices or processes, as previously reported to the Committee.

In response to questions, the Director of Resources provided the following clarifications:

·                    Loan repayments referred to loans where the Council had borrowed monies;

·                    The Council had no housing stock, but as part of the transfer of housing stock there was a small amount of money the Council received from the Housing Association dealing with the property.

It was noted that in Appendix 1 under ‘Investment for Services Purposes’ there was a minor typographical error which would be corrected.

RECOMMENDED

(i)                 that the Capital Strategy for 2019 / 20 attached as APPENDIX 1 to these Minutes be approved;

(ii)               that the Investment Strategy for 2109 / 20 attached as APPENDIX 2 to these Minutes be approved.