Agenda item

Report: See pages 70-97 of the main agenda

In accordance with council assembly procedure rule 2.10(2) the Mayor formally moved the recommendations contained in the report.

Following debate (Councillor Toby Eckersley), the recommendations contained within the report were put to the vote and declared to be carried.

RESOLVED:

1.  That council assembly noted the updated Treasury Management in the Public Services Code of Practice and formally affirmed its adoption by agreeing the resolutions set out in Appendix A of the report, which include inviting the constitutional steering panel to consider future arrangements for additional review and scrutiny.

2.  That council assembly noted the treasury management strategy will be managed by the finance director under financial delegation.

3.  That the annual investment strategy 2010-11 set out in Appendix B of the report be agreed, keeping capital preservation as a key objective, in line with updated government guidance on investments.

4.  That the prudential indicators covering capital finance, borrowing and cash management for the years 2010-11 to 2012-13 set out in Appendix C of the report be agreed.

5.  That the annual minimum revenue provision statement 2010-11, for setting aside prudent sums from revenue to reduce debt, as set out in Appendix D of the report be agreed.

6.  That a capital allowance of £170m, described in paragraphs 25 - 27 of the report be agreed, enabling the council to continue retaining capital receipts for affordable housing and regeneration.