To submit
the report of the Cabinet Member for Finance
(attached).
Additional documents:
Minutes:
Submitted - the report of the Cabinet Member
for Finance requesting that the Council adopted the proposed strategy.
Referring to the fact that this Council gave
loans to local authorities in England, it was asked whether there was a risk that
some of those councils could become bankrupt.
In response, the Head of Finance Department explained that these
councils were credit-rated and that the risk had been spread widely. Also, the loans were temporary and it was
'nigh impossible' for a council to become bankrupt because it could charge more
tax.
RESOLVED to adopt the
Treasury Management Strategy Statement and Annual Investment Strategy for
2018/19 (Appendix A of the report), the Prudential Indicators (Appendix B), the
Minimum Revenue Provision Statement (Appendix C) and the merger arrangements
with the Pension Fund for the investment of daily cash flow.
To submit
the report of the Cabinet Member for Finance
(attached).
Additional documents: