Issue - meetings
Capital Non-Treasury Investment, Treasury Management and MRP Strategies and Statements
Meeting: 18/03/2024 - Council (Item 11)
11 Capital Non-Treasury Investment, Treasury Management and MRP Strategies and Statements 
PDF 554 KB
Report of the Cabinet Member Finance and Assets
Additional documents:
- Appendix_2_Capital_Strategy_2024, item 11
PDF 2 MB
- Appendix_3_Investment_Strategy_2024, item 11
PDF 2 MB
- Appendix_4_Treasury_Management_Strategy_2024, item 11
PDF 2 MB
- Appendix_5_MRP_Statement_2024-25, item 11
PDF 350 KB
Minutes:
Presenting his report, the Cabinet Member for Finance and Assets reminded Members that with ten years’ austerity and its commitment to fund discretionary services, the council has taken a route to commercialise operations wherever possible. With the cost of services at £23.6m and income from local taxation and grants equalling around £17.3m, we have to fill a void of £6.3m through trading and investment income. How we use capital and manage investments is essential to make sure we maximise returns to support the General Fund budget, and minimise exposure to the higher cost of borrowing.
He said the documents presented today set out a 12-month plan, including mandatory strategies for local authorities, to be reviewed and approved by Council each year. Together with our Asset Management Strategy, they provide the framework for our capital, asset and investment decisions for the coming year.
Also presented today for approval is the annual minimum revenue provision statement which explains how the repayment of borrowings has been calculated. There has been no significant change to our approach for the coming year, following a final consultation on the regulations which closed in February
There were no questions from Members.
A Member thanked the Cabinet Member for his report, which highlighted the huge amount of detail required for the many difficult financial decisions. She was pleased that £180m was still prioritised for affordable housing and that the council continued on a good path with that strategy.
The Cabinet Member for Finance and Assets gave thanks, as always, to the finance team, who work tirelessly to ensure that CBC is very well financially run.
RESOLVED THAT:
1. The Capital Strategy 2024/25 at Appendix 2 is approved;
2. The Investment Strategy 2024/25 at Appendix 3 is approved;
3. The Treasury Management Strategy Statement 2024/25 at Appendix 4 is approved;
4. The 2024/25 MRP Statement at Appendix 5 is approved.