63 BC/20/26 JOINT CAPITAL, INVESTMENT AND TREASURY MANAGEMENT STRATEGIES 2021/22 PDF 2 MB
Chair of Joint Audit and Standards Committee
At its meeting on 25 January 2021, Joint Audit and Standards Committee considered Paper JAC/20/10, the Joint Capital, Investment and Treasury Management Strategies. Paper BC/20/26 now includes all the relevant updated information following consideration by the Joint Audit and Standards Committee, together with the necessary recommendations.
Minutes:
63.1 The Chair invited Councillor Hurren to introduce Paper BC/20/26 and to move the Recommendations in the report.
63.2 Councillor Hurren introduced the report and provided a summary of the key information contained within it.
63.3 Councillor Hurren expressed his thanks to the Finance team and PROPOSED Recommendations 3.1 to 3.7 as detailed in the report.
63.4 Councillor McLaren SECONDED the proposal and also expressed her thanks to the Finance team.
Note: Councillor Ward left the meeting at 9:03pm.
63.5 Recommendations 3.1 to 3.7 were put to Members for voting and the vote was CARRIED.
By 26 votes for, 3 votes against and 1 abstention
It was RESOLVED:-
That the following be approved:
1.1 The Joint Capital Strategy for 2021/22, including the Prudential Indicators, as set out in Appendix A.
1.2 The Joint Investment Strategy for 2021/22, as set out in Appendix B.
1.3 The Joint Treasury Management Strategy for 2021/22, including the Joint Annual Investment Strategy as set out in Appendix C.
1.4 The Joint Treasury Management Indicators as set out in Appendix D.
1.5 The Joint Treasury Management Policy Statement as set out in Appendix G.
1.6 The Joint Minimum Revenue Provision Statement as set out in Appendix H.
1.7 That the key factors and information relating to and affecting treasury management activities set out in Appendices E, F, and I be noted.
64 MC/20/26 JOINT CAPITAL, INVESTMENT AND TREASURY MANAGEMENT STRATEGIES 2021/22 PDF 2 MB
Chair of Joint Audit and Standards Committee
At its meeting on 25 January 2021, Joint Audit and Standards Committee considered Paper JAC/20/10, the Joint Capital, Investment and Treasury Management Strategies. Paper MC/20/26 now includes all the relevant updated information following consideration by the Joint Audit and Standards Committee, together with the necessary recommendations.
Minutes:
64.1 The Chair invited the Chair of the Joint Audit and Standards Committee, Councillor Muller to introduce Paper Mc/20/26 and to move the Recommendations in the report.
64.2 Councillor Muller provided Members with a summary of the report including the Appendices and MOVED Recommendations 3.1 to 3.7 in the report.
64.3 Councillor Caston SECONDED the Recommendations.
64.4 Councillor Eburne referred to the appendices and the Environment and Social Government report for Gateway 14 (ESG) (page 152). There seemed to be a reticence on behalf of the Council to implement the report. She asked why there was such a reticence and for the time frame for when the Council would be implementing the ESG on its investments.
64.5 The Assistant Director – Corporate Resources responded there was not reticence but that the Council would have to move funds to be able to implement the ESG and that Council was not in a position currently to do that. This had been discussed at the last Joint Audit and Standards Committee (JASC) meeting and the Committee had requested for a report for ESG to be presented at the May JASC meeting.
64.6 In response to Councillor Eburne’s question concerning the implementation date for ESG, the Assistant Director responded that this would be a Cabinet decision, as this was a policy to be implemented and it would not be possible to provide a timescale until the report had been written and discussed.
64.7 Members move to debate and Councillor Matthiessen commented that the problem was that the Treasury Management Policy did not support the climate change policy. The County wide pension scheme had moved forward and had saved a great deal of pension fund staff money and he wished the Council would follow suit soon.
64.8 Recommendations 3.1 to 3.7 were put to Members for voting.
By 17 votes for and 17 votes against
The Chair used his casting vote, and the vote was CARRIED
It was RESOLVED:-
That the following be approved:
1.1 The Joint Capital Strategy for 2021/22, including the Prudential Indicators, as set out in Appendix A.
1.2 The Joint Investment Strategy for 2021/22, as set out in Appendix B.
1.3 The Joint Treasury Management Strategy for 2021/22, including the Joint Annual Investment Strategy as set out in Appendix C.
1.4 The Joint Treasury Management Indicators as set out in Appendix D.
1.5 The Joint Treasury Management Policy Statement as set out in Appendix G.
1.6 The Joint Minimum Revenue Provision Statement as set out in Appendix H.
1.7 That the key factors and information relating to and affecting treasury management activities set out in Appendices E, F, and I be noted.