Cabinet considered a report by the Head of Finance, Governance and Assurance on the proposed Treasury Strategy for 2015/2016 and the recommended Prudential Indicators for 2015/2016 to 2017/2018.

That Council be recommended as follows:

(a)  To approve the Treasury Strategy for 2015/16.

(b)  To approve the Prudential Indicators, set out in Appendix 1 of the report, in accordance with the Local Government Act 2003.

(c)  To approve the Investment Strategy, set out in Appendix 2 of the report in accordance with the CLG Guidance on Local Government Investments.

(d)  To approve the Minimum Revenue Provision (MRP) Policy Statement, set out in Appendix 3 of the report.

(e)  To authorise the Section 151 Officer to exercise the borrowing powers contained in Section 3 of the Local Government Act 2003 and to manage the Council’s debt portfolio in accordance with the Treasury Strategy.

(f)   To authorise the Section 151 Officer to use other Foreign Banks which met Capita’s creditworthiness policy and Money Market Funds again if required as money markets continued to stabilise. 

(g)  To note the proposed Prudential Indicators would enable the Authority to use the equivalent of up to 3% of Council Tax in 2015/16 or future years, to fund borrowing under the Prudential Code should the Council decide to do so.