Agenda item

(See pages 157 - 177 of the main agenda)

Councillor Fiona Colley, cabinet member for finance, modernisation and performance, introduced the report and thanked the finance officers who had prepared the budget reports.

The recommendations contained within the report were put to the vote and declared to be carried.

RESOLVED:

That council assembly:

1.  Noted that the proposed 2018-19 treasury management strategy is to be managed by the strategic director of finance and governance under financial delegation.

2.  Agreed the proposed annual investment strategy 2018-19 as referred to in paragraph 18 to 24 of the report and set out at Appendix A of the report.

3.  Noted the council has borrowed £30m to finance capital expenditure previously funded by internal borrowing as set out in paragraphs 25 to 43 in the report.

4.  Agreed the prudential indicators covering capital finance and treasury management for the years 2018-19 to 2020-21 set out at Appendix B of the report.

5.  Agreed the minimum revenue provision statement, as unchanged from 2017-18, for setting aside prudent sums to reduce debt and long term liabilities set out at Appendix C of the report.